What Cisco really invests is not $1B, as they pay out 16% less bonus this year (CPF=0.84). If I use my bonus as reference for every 80000 employee, then Cisco save $350 Million in bonuses.
Everything related to salary raises and promotions is so confusing this year. This is now my last posting about that subject. What day is the day we are told our raises?
The total compensation will be boosted by $1B. Includes all forms of compensation, promotions, salary increases, RSU, bonuses.
If this was announced by CR to the outside..why isn't there any internal communications about this to the employees?
I don't know. Maybe the $1 billion is, or is are part of, the "30% more for salaries and promotion" package, e.g. one term was used for outside communication and the other term was used for internal communication?
https://www.theinformation.com/articles/what-belt-tightening-cisco-ceo-planned-1-billion-budget-increase-to-retain-employees
The external article mentions that only parts go into salary raises. Where does the other part go???
As mentioned by someone else below, $1 billion boils down to $12k per employee and only parts of it go into salary raises. A salary raise of even 50% of $12 is pretty standard and a shame to offer during this inflation.
Communication about what to expect is pretty poor. My exceptions are pretty low.
If this was announced by CR to the outside..why isn't there any internal communications about this to the employees?
Why would you choose IBM? That's not an upgrade
What article is this, I can’t find it
IBM is hiring Cisco employees. Just submit a one page resume and list Cisco as the only place you've ever worked. You're in. No interview is required, they just need proof that you are working at Cisco or have worked there in the last 2 years.
Big Blue wants you, Cisco Man.
Who is trying to hire people from Cisco in 2022? There aren't many. Maybe go to Amazon and get managed out before your stock vests?
Cisco skills don't translate well in 2022.
Cisco doesn't do anything quickly, so it’s probably better to just move on.
@upz+1iosz93y True. My colleague at Cisco UK just resigned and moved. I myself moved from my direct SE management...too much cr-p. Anyone who is any good always has a home. The left behinds are the ones with nowhere else to go.
It’s too late, many performers have already left. Mediocre and trash performers are still around, they’ll get a slight bump. I’m not sure how that helps the company but ok.
One billion divided by 80,000 employees is about $12,000 an employee. Trust and believe that billion will be doled out over multiple years.
Even if they gave top performers 25k each, it wouldn’t be enough to keep many of them.
Cisco salaries are typically 25% below the job market. A $1 billion increase will make it 15% below the market rate, and is a great PR piece to improve the brand.
I'm not sure the article could be any clearer?