If this year's bonus already shifts, then bonus will be smaller, and salary will be higher throughout the subsequent year.
If this happens immediately prior to this year's Bonus payout we lose out.
If the shift happens after the Bonus payout we win.
"I would bet you any day of the week that you NEVER got a 1.7 or 1.9 IPF "
Why would I lie? You know nothing about me. You don't know my grade, you don't know what I've achieved, you don't know in which department i work, you don't jack. Yet here you are making claims. No wonder we're sinking.
@3zmm+1glHePAx - Sorry but I would bet you any day of the week that you NEVER got a 1.7 or 1.9 IPF unless you solved world hunger or cancer. You are only quoting the advertised max of 1.9. If you got a 1.4 or 1.5 I can believe that but I assure it that I'm certain enough to post this without hesitation that I do not believe 1.7 or 1.9.
This is being driven by the admin level and out of CA. They did this once many years ago and of course, the lower end affected everyone. Here's a news flash. Do the math and you'll find you will make less of right at what you made anyways. You will not come out better in the long run. Given that you could possibly get more than the amount of your regular bonus you are probably giving money back that you didn't even know you could get. Big mistake but but I guess some are short sighted, some need the money now, all will cost the rest that don't want this in the long run. It's not worth it unless they match a 5% cut in your bonus amounts.
Of course solid employees lose big time here! No more IPF and CPF bonus multipliers. Your bonus is limited to your grade's target percentage. My IPF regularly hits 1.7 to 1.9, and CPF is usually 1.1 to 1.2. With those out of the equation, that's a significant net loss. Who the fsck was actually consulted about this? Only low-performance low-grade employees would agree with this plan.
bonus taxed at high rate than regular salary. good move
Francine, Chuck and the whole ELT are basically a bunch of very well paid clowns. We are not stupid and the one who have talent will leave this F-ing company.
I love how this is a proposal to offset the current inflation. Total compensation doesn't change, not sure how that is supposed to offset anything. Cisco has a employee problem. Too many people doing nothing and getting paid, too many people doing way too much and not getting paid...
In theory just a cash flow shift, but potentially reduces the net bonus for those who get higher IPFs.
Shell game people.
So no real sacrifice on the part of Cisco, the shareholders, or the ELT. When will you realize that these corporations are raking in record profits but bending all of us over in the process and sticking it to you instead of rewarding you for your efforts?
Know your worth and vote with your feet.
Well, I’m getting close to retirement, so not having a meaningful bonus means I can retire any time.
Fran stated the FY22 PL&I Bonus will payout as scheduled. They will make the shift to rebalance salary to more of the bonus being base salary and less being bonus for starting FY23 at the focal period. You won’t miss out on your current bonus plan…
It’s purely to try and make people think they are better off without spending another dime. Staggeringly cynical.
If an employee knows how to manage money, simply shifting their bonus to salary does jack sh-t for their bottom line. You’re still down 10% for the year.