They definitely knew this was coming when they assigned the July 4th shutdown week. While I had my doubts back then that it was to burn through PTO to avoid payout, I fully see that as fact now.
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What exactly is there to sue cisco for? Literally no case. Companies can mandate how/when pto is used so that's perfectly legal. Doing a LR even multiple in a year. Perfectly legal. This is simply just the result of pathetic leadership managing a company. Everyone who works at Cisco knows the company does LRs yearly. If you don't like it you had plenty of time to leave. This cut may force you to ieave to help find greener pastures.
kinda messed up they force july PTO and then do a lay off after. Someone could really make a case and sue Cisco for this.
Of course Con Man Chuck knew
80,000 employees with average hourly salary of $100 take 4 days (4*8h) off. That results in a saving of $256,000,000 (256 million). Not bad. That might have saved roughly 1000 employees from getting laid off (assuming an annual salary of 256k).
its like 1+1+1 = 3 .. so shutdown week + hiring freeze + low marketing budgets/expense budgets = layoffs
This layoff round should not be a surprise. And everybody with braincells should have recognized that Cisco is not a safe workplace if you want or have a family/mortgage.
If you were d-mb enought to actually book the "mandatory" PTO you deserve whats coming. Much like the "mandatory" jab. Fool me once shame on you, fool me twice ...
Oh he-l yes they knew. This has been planned for almost 3 Q’s.
And they smile when they tell you otherwise.
We are forcing PTO to save money on paying you when we lay you off. Slimiest con job ever! First time shame on you, second time shame on me. After this, good luck on having any confidence in your ELT.
Disgusting!
First, rob them of the PTO so our final numbers look better for the investors, then we let them go and have to payout even less in the new fiscal.
Can the mandatory PTO burnt out be reversed? This was intentional knowing LRs ahead and to save money from paying employees after LR.
Yup they sure did! I really hope everyone calls out their BS during the next all hands.