Is Wednesday LR list out to managers ? I asked my manager on friday about it and he is not aware of the LR list as of now. I'm guessing he doesn't want to reveal anything now.
Does anyone has idea about this ?
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LR is Cisco speak for Limited Restructuring. This restructuring consists of 3 measures:
- A voluntary early retirement for those that meet the criteria. (completed)
- A voluntary work week reduction (32 hours) or 20% pay cut. (completed)
- Involuntary headcount reductions. This is the layoff part. That will start after the first 2 measures are complete.
The published goal is to reduce expenses by $1billion. This is such a shame. As recently as April Cisco repurchased $1b in stock. CSCO has bought back over $70 b in the last decade or so. Stock buy backs trump employees!
Cisco has nearly 80,000 blue badge employees globally and 58,000 red badge (contractors).
"Heard they are keeping list at Director level this time. First line managers do not know"
So Managers doesn't know who might be on the list ?
I expect cx management to get m—acred.
CX has a renewed focus on SPOC and it is expected to almost triple (25-30+). Unless it is going to start raining G6 resources, the easy equation is removing management.
Any insight on the timing US vs EMEA? Will it launch globally on the 7th?
Heard they are keeping list at Director level this time. First line managers do not know
So Oct 7th is the date of the LR?
Manager had to put you on risk list a month ago, so of course they know
Depending on how many in your org took the ER you may not see anything. However, they will still get rid of performance issues as they should.
YES ! They are strictly instructed not to leak the news. 5th all ER acceptance followed by 7th LR
If your manager himself at risk then might be surprise him on wednesday since this time axe is on the mgmt