Good news is those on LR will receive mid year bonus. Sad news is it’s only half of what should be given. Bonus payout date in USA is March 15, 2024. Some comfort on receiving 25% bonus money, but that means year end payout will also not be good to those staying behind.
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Cisco used to say bonus is part of your compensation and Cisco doesn't do layoffs during lean times that the company simply cuts bonus.
Cisco has been doing layoffs, often times as much as quarterly, for 23 years. They cut bonuses many times over that period. Why do people keep "just discovering this" throughout all 23 years?
It’s the mid-year - technically the company shouldn’t have to pay anything until the company performance number is calculated at fiscal year-end. It’s only there as a talent retention tactic in my opinion. With poor fiscal performance, reducing the mid-year limits the larger financial risk at fiscal year-end for over-payout.
Half the mid-year = 25% of full year.
Cisco used to say bonus is part of your compensation and Cisco doesn't do layoffs during lean times that the company simply cuts bonus. Now Cisco cuts bonus and does semi-annual layoffs.
Is it 25% of the full year bonus? Or 25% of the mid year bonus?
I thought it was the latter