Thread regarding Cisco Systems Inc. layoffs

Paycuts Coming to SV

https://www.wsj.com/articles/silicon-valley-pay-cuts-ignite-tech-industry-covid-19-tensions-11602435601

If paywalled, see it here:
https://archive.is/E3ZCO

Silicon Valley Pay Cuts Ignite Tech-Industry Covid-19 Tensions

  • Bay Area staffers move to less-costly locales to work remotely in pandemic, triggering cost-of-living salary reductions and stoking debate

Tech workers fleeing the San Francisco Bay Area to work remotely amid the pandemic are facing a new reality: pay cuts.

  • Over the past several months, Covid-19 has shaken traditional notions of where employees can work. In Silicon Valley, which has a relatively high cost of living and an employee base with access to state-of-the-art remote-work tools, companies are devising plans for a future with decentralized staffs.
  • In some cases, changes can include cutting salaries by 15% or more depending on where someone moves.

Continues at the links above...

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| 3553 views | | 8 replies (last ) | Reply
Post ID: @OP+17oNwrpG

8 replies (most recent on top)

Your value to your employer is your cost of replacement. If the cost of replacing you is higher than your total compensation, your employer has a risk. If the cost of replacing you is less than your total compensation, you are at risk.

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Post ID: @1koe+17oNwrpG

Pay cuts are coming across the board in many tech industries. There will be reassessments of pay grades and scales. Your position may have had a pay range of $80k - $120k prior to Covid. With the new number of people looking for work, remote employees a viable option, and the number willing to take your job at a lower salary, that pay range is now $50k - $90k. If you make near the top or over it, you will be looked at as the next volunteer for a package come early next year.

Cisco has 111 active positions on Indeed alone (RTP). I am willing to bet all of them are fake. They are simply there to gather information on the supply of workers, their skills, and salary demands. That information is used to determine if you are an "at risk" employee. Look to see if your role is similar to what they are seeking. If so, that information is being gathered to determine whether it is cost-effective to keep you. If they have 200 people apply for a position, 20% qualified to do it, and 10% of those willing to do it for $70k per year and you make $120k, guess what? Your $120k job is now "at risk". It is simple math and if you do not think that this is what your company is doing, then you are not too bright.

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Post ID: @1wln+17oNwrpG

Good hint! Let's move back to India then we will all live like king and queen!

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Post ID: @1rxa+17oNwrpG

Think IBM split in software and services

Break Cisco into

  1. Services
  2. Hardware
  3. Software

Sell each or spin out to GCP

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Post ID: @1zus+17oNwrpG

Valley of meh

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Post ID: @1msl+17oNwrpG

Cannot Cisco and any other companies figure out your location based on your IP or cell phone or other methods?
Remember, Cisco is a network equipment manufacture. Even google, facebook and other website know your physical location. You cannot hide.

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Post ID: @1xtc+17oNwrpG

DE has taxes. Every state has taxes. DE income tax is graduated and tops 6.6% on $60K. There's no consumer sales tax but there is a gross receipts tax on the seller so it's baked into your price. The rates currently range from .0945% to .7468%, depending on the business activity. DE also has an 'abandoned property law' that lets them claw in about half a billion dollars in unredeemed value of gift cards, uncashed corporate checks, business-to-business credits and dormant stock accounts. If the company is incorporated in Delaware, the money goes to the state.
Delaware is cheap because you don't need to build roads in its mostly rural area (the entire state is a fifth of the size of the Chicago metro region) and it's basically a suburb of Phillie and Baltimore so it's basically sponging off MD and PA.

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Post ID: @wfn+17oNwrpG

Just move to a low-cost area but don't inform Cisco that you moved. How they gonna know especially now that everyone is working remotely?
If they send snail mail, just use mail forwarding service. I wanna move to a tax-free state like DE from RTP.

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Post ID: @yzz+17oNwrpG

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