- Most notifications to go out on Sept 16
- After that, US to move to “unlimited” PTO policy (I posted this last week and got downwoted)
- Rewards decisions moving to two cycles. First bonus, later merit / promo / stock. Payout, vesting and merit increase dates to remain the same. Only decision dates are changing
- TAC will eventually move to Mexico
29 replies (most recent on top)
@OP or anyone else.
What’s different about #3
Hasn’t it been two cycles for a couple of years now? Like is it that they’re just trying to be transparent
Basically, it was don't worry about the layoffs. Look at this new shiny object we have for you in the US, Unlimited PTO. Zero answers on who will be impacted, wait 30 days, keep you head down, and focus on you work. Ummm Thanks?
The PTO thing is one everyone should have seen coming. Accrued PTO is a liability on the books. What I am hearing is that they will pay it out so that they can get the liability off the books. Many many other companies have done this. Taking PTO is likely to not be any more difficult. My anecdotal understanding is that people tend to take less PTO when it is "Unlimited". I wonder if they will do away with the both of the shutdowns.
Floating holidays are not going away, so I don't think we'll get paid out on any accruals.
The rest may be true but I’ve seen no official discussion of TAC impact. Where is this coming from?
Chatter is VM,VP will move 35%-45% TAC to Mexico
Just the US going to unlimited PTO? No change for the rest of the world?
Will there be any remaining US based TAC?
I am former Cisco employee. It sounds musical to be able to say _former_ cisco employee!
Take the following with a grain of salt. I am a former Cisco employee, whose most recent company changed from accrued PTO to unlimited PTO.
In my experience, they HAVE to pay you banked hours at TERMINATION. When converting, they would keep track of your banked hours and deduct as you took "unlimited" PTO. So at some point in the future, you have exhausted all banked hours, and at termination, there is no PTO payout.
Now that said, any company can CHOOSE to pay out the PTO hours balance at time of conversion to "unlimited" PTO.
No idea how Cisco will play it. I worked for a CA-based company in example above. I may have raised more questions that provided answers, but legally, there is some gray area here for a company to pursue the policy they want. Full payment gets the liability off the books once and for all , of course. Perhaps that is Cisco's preferred route.
Good luck. When I was impacted, the accrued PTO of 280 hours helped bridge as I interviewed. In a couple of years, none of this will matter. You will have moved on or adapted to the new reality.
@qdh+1u2W19GL No way they would authorize that. Too much red tape with immigration and sponsorship.
Probably because it’s a closer timezone vs India if I had to guess
The sad part is now, no one is talking about the LR but the unlimited PTO. ELT was able to divert all the attention to the new PTO policy. Well done, ELT!!
Why Mexico being chosen but not India ?
There will be only this U-PTO which rule all others.
What about floating holiday accrued time? And no more birthday PTO? I assume days for me are dead too?
Will they pay out our floating holiday hours or just PTO?
Take your PTO fast and frequent, rack up 40 to 50 days in the first six months
ELT saving big on the PTO for Cisco, wondering they may get a big bonus by helping the cost reduction ?
Will a US based TAC employee have an option to move to Mexico if they choose or do they get layoff package?
This is such a 1-2 punch from the ELT, and turns out there's a 3rd and 4th...
So is there no year end bonus?
It’s actually kind of amazing how opaque Cisco is with the forced PTO shutdown. Everyone saw what they were doing, and they gave some trash reasoning. And here we are with them paying out the PTO balances. Incredible.
Did they really confirm TAC was moving to MX?
The concept of unlimited PTO originated in the United States, where there is no federal law mandating paid vacation time for employees!
Yes, your PTO up to mid Sept. will be paid out on Oct. 18th
Yes, payout will be October 18.
Will they pay out PTO? Coming from a Splunker who saved up all their PTO...
Any clarity yet on if accrued PTO will be paid in lump sum when moving to Unlimited?