I used to be at Cisco back I the day and found myself in the same elevator with John Chambers. He was rehearsing a speech for an all-hands and kept murmuring ‘I want for Cisco to be a company you want to retire at’, only to implement more layoffs thereafter.
Yes Cisco can be a company you can retire at, if you want to be let go at age 40! Haha
John Chambers was a fool who started the demise of Cisco towards the end of his tenure. Cisco should have sent that old fool packing about 15 years ago to avoid the messes he created.
I remember when he had 36 "first priorities" and celebrated that the next year he would have 100 "first priorities." Just remember, he'll "always have unrealistic expectations of you!"
John Chambers was a trainwreck with a scatterbrain. Dyslexia had something to do with it. Could not focus and had 50 market adjacencies at one point along with boards and councils with no accountability.
John Chambers was a trainwreck with a scatterbrain. Dyslexia had something to do with it. Could not focus and had 50 market adjacencies at one park t along with boards and councils with no accountability.
I'm not blaming Chambers for the waves after waves of layoffs. I'm just saying the dude had the world at his feet and he blew it. Pulling defeat from the jaws of victory.
Cisco did indeed let me retire, it was just on their schedule. Hired 2000, LR'd 2017.
Took package money and went to other company for a few years.
What people don't realize is "The Rule of 55". You can leave your current employer at age 55 or older and start using your 401k; you just have to leave the company you are working for at that time.
So if you get LR'd, just go work at another company until you hit 55. Move your 401k to that company. Then you can retire at 55, start using your 401k; and maybe get a cheezy job doing something with much less drama.
It is absolutely doable if you save for retirement along the way.