Why not pull the trigger?
23 replies (most recent on top)
No, it is to cover their bases and not get sued.
It's the restructuring itself that's pushing the stock price up, not the delay. The stock would be up the same amount if they'd have done notifications the next day.
Delay is all with playing wall street , look at the stock since layoff announcement
This is why the best advice is to keep your powder dry. Regardless of how much you make,, you should strive to always live well below your means, and build up a stock pile for times like this. The opposite strategy will make you a slave.
Save your money, and thus create options for yourself to say "pound sand" when the inevitable time calls for it.
The "list" takes time, as in it takes time for budget to trickle down the hierarchy. I'm a manager - my team is ICs, no managers. I have 0 information yet to know what my budget is and if I'm cut or if I have to cut anyone from my team.
What’s the last date managers must finish working bonus award in USA?
When will bonuses e paid out?
These two dates will decide completing the LR list.
If the list is final what’s the point of waiting until 9/16?
If the list is not final, then there is a point of waiting till 9/16.
Now guess what.
Is it possible they’ve got another angle to look into setting up performance issues and who become less performant and in turn give them an even lower bonus?
Probably is no list yet :) Being trolled
I suspect it is really because of the final reviews. Cisco can't execute. This includes to layoff employees. One time one of the notices was meant for a US employee but it got sent to an employee with the same name in Asia-Pacific. You can imagine how surprise the manager was after he found out what happened.
To address some things in this thread so far:
Bonuses would be paid out if they made the announcement the day after quarterly results, because the eligibility requirement is to be an employee on the last day of the 4th qtr.
The list may have been compiled company wide, but it isn't final until it's reviewed for anti-discrimination practices and cleared by legal
The level of the employee - manager, sr manager, director, etc. - doesn't have any impact on the amount of time it takes to compile the list. They wouldn't even know they are on the list until notification day. Just like everyone else. (And if a manager at any level is on the list, their direct manager would notify their team and their manager's manager would notify them)
The list is not finalized two months before announcements. In fact, it usually takes 6-7 weeks for the entire planning process to play out.
Definitely not for project but for management chain to arrange their life boat.
so the favorites can be setup for other roles
The list gets final at least two months before layoff announcements and there is legal process that needs to be complete before notifying employees but the incompetent HR and legal organizations were too lazy to do their job on time and are behind.
Because it’s impacting a lot of middle management so they’re staying on until after bonus payout.
Some of us are still involved in projects that they need to finish.
In CX there is a cycle that ends around this time.
They have to check it twice.
The list is in.
What about sr directors or VPs?
Cost savings
What do talented engineers do in uncertainty?
Find jobs and leave voluntarily. Increases cost reduction two ways. voluntary attrition of folks on and off the list before severance.
Directors and Senior Managers getting axed this round. That may explain it
Pretty sure the list is not final. AND the management chain is busy trying to sort itself out. Carnage has to come from somewhere.
It is to give us an extra month to look for a job.