He said employees will be briefed tomorrow
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Careful believing the 6 month package is deceptive. The clock on that starts Dec. 12 not exit date.
Just look back a month or two ago. There were threads about raises and promotions. Does Cisco not know about this at least a few months ago to minimize the impact? How much did Cisco spend for the raises and promotions? That might spare the LR that is here and now.
6months package Dec 12 notice leave feb
if notify tomorrow, do we have 60 days to look for any internal openings
No surprise, as HW Product sales way down globally
Just spoke to one of the Wall Street analysts on the call and he could not believe that Chuck announced layoffs on the earnings call without notifying the employees beforehand
$600M does not include large number of contractors being terminated since they do not get severance
Anyone know if this typically affects longer term interns?
I’m a contractor who recently joined and I’m really scared
Awesome. Hope severance is good and we can move on to do better things.
At $600M, it's either a smaller package or a much smaller # of people. They've set aside $1B+ before for the 2011 and 2016 packages affecting 5K+ employees.
Awesome. Hope severance is good and we can move on to do better things.
CFO said close to $600M set aside for severance Congrats to all the winners!!
"600 million consisting of severance and other one-time termination benefits, real estate-related charges, and other costs" Maybe congratulations to all the realtors :P
Not new news, as this was reported on this site months ago when HR pulled together the LR List
Amazing how this site is the place for employees to learn the facts
CFO said close to $600M set aside for severance
Congrats to all the winners!!
SMILES EVERYONE. Come in with your best "hello from.." tomorrow. The first 100 to comment will get a free pass from the carnage.
May the odds be forever in your favor.
“Right sizing the OPEX” in collab in reference to the coming headcount impacts…not looking forward to tomorrow’s check in.