If you've been at Cisco for a while and receive a decent paycheck (a hard-earned paycheck, mind you) you can consider yourself as good as gone. I'm not trying to scare anybody, but I'm in this group and while I managed to avoid layoffs so far, I'm 99% certain I will not avoid this one. They are looking to cut as much in the way of costs as they can, so the most expensive employees outside of management will be affected. I don't even think it's age discrimination, just good old greed.
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I’m over 50, and I’m done! I will be glad to get away from the stress of constant layoffs!
Anyone over 45 in tech should find another profession. The pace is not sustainable for you. Get out while you can.
50+ is definitely a target. I was luckily I'm the Feb LR. I got the documentation from my group finance..and gsso magically let go 3 folks, 57. 54. 48. Clear age discrimination.
Over 40 years old is the new target which is when Cisco's medical insurance costs shoot up
They could offer Early Retirement to some at Splunk and I bet they would take it.
How can ER cost more, maybe in the immediate it does but we do LR every year so let go the people that want to leave with the ER and save some jobs in the next LR by not laying off as many!
Wishing for an ER here too!!!! But probably won't happen.
That’s why I don’t understand why they haven’t offered ER! I am over 50, been and been here 20+ years! I would take the ER package in a second!!
Because the ER package costs more than the LR package. It's all about costs.
That’s why I don’t understand why they haven’t offered ER! I am over 50, been and been here 20+ years! I would take the ER package in a second!!
I have heard from a solid source that the magic formula is age + years of service; they start at the biggest number and work their way down.
I'm sure that somewhere along that process, some manual exceptions are made to make it look legal.
Layoffs are balanced by old and young age, race, gender to avoid lawsuits.
Pay grade matters more than age?
Actually anyone over 45 was considered old in the last LR and they are looking for folks with long tenure, high salary and RSU holding.