Thread regarding Cisco Systems Inc. layoffs

...they soon find out they were getting paid quite well for the job that they were doing at Cisco.

Many also find out their skilled died on the vine at Cisco. Cisco has destroyed many once excellent people.

people keeps talking bad about Cisco but then after getting laid off and trying to find another job, they soon find out they were getting paid quite well for the job that they were doing at Cisco. Sometimes reality hits you hard.

Please hang in there as long as you can till you find another income resource. Since you are doing garbage jobs which no one wants, also no one will take you serious.

OP poster here: thank you all for your responses. Great advice. I have been contributing to 401all along but agree that tech jobs have plateaued.
If something can be done remotely, it can be done from a cheaper location.

I am 55+. Quit Cisco myself about 1.5 years ago for a startup. The startup did not work out due to a micromanaging high stress environment. Moved to another startup, a spinoff from one of the FAANGs. Great environment, amazing boss and CEO, very dynamic culture, great benefits. However, I kept myself up-to-dated with tech even though I was in a customer facing role at Cisco. I kept my programming, cloud and AI and other skills polished via participating in various internal projects at Cisco that I didn’t get paid for, had to work on my own time and at times got questioned over. But those experiences helped me get through the interviews and grab the jobs. Those may not pay in money but a patent that has my name on it is worth a lot on a CV. And hands-on project experience is invaluable at interviews. Speaking from experience, just having Cisco on your CV does not do you any favours if you are 50+, quite the opposite.

The question isn’t when you can start your 401k, it’s “will it last me 30 years of retirement?”

Sounds just like me. I was LR'd from Cisco seven years ago. Was lucky to pick up a better paying job than Cisco, smaller startup. Downsized there also after two years. Went to then third company, which I just left on my own choice. This last company just would continue to throw on-call and weekend work responsibilities with no pay increases.

Tech job pay has definitely plateaued it seems, even if one is skilled and in demand. The days of high-end pay it seems are over. Tech overall seems officially a commodity skill that can be performed anywhere with a remote connection.

Regarding "beans and rice", I did finally retire at 57. Have always maxed out retirement funding. Look up "Rule of 55"; you can start using your 401k from your current employer at age 55, regardless of the reason you leave. So I left my current employer, and started my 401k, and working a much lower stress part time gig.

My vote try to downsize and make it to 55, assuming you have been really saving in 401k throughout career.