Cisco did incredibly wrong by announcing LR. But delaying notifications by one month that stirred everyone and caused insurmountable anxiety and mental health issues. Many of my peers literally stopped working. Absolutely zero productivity during this stress full time. What was ELT thinking 🤔 - just bunch of losers and id--ts to every employee. Hope they learned their lessons not to repeat.
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the .61 company performance factor was obviously to pay for the PTO in the US payout. Such a sham, and everybody in the company had to eat it. Did we really miss expectations by 39%? I think not. ELT should be taking a 39% haircut across the board and stop faking that they are hurting too. White Ivory Towers is great until the workers revolt
We are great at Cisco in doing everything legally, yet we are unethical.
Cut ELT salaries before cutting people!
"Cisco pays you for 12 months a year so you have an ethical obligation to work all 12 and not slack off for one month every year."
You sound like one of the idi-t managers. You are the last person to talk about ethics. Cisco managers and above constantly violate company's Business Code Of Conduct and get away with it. Is it ethical that Fran goes to Paris with his family using Cisco money while a major layoffs are announced by Cisco?
Thanks Mr VP, you should visit here more often. You may also be among LRed soon.
Finally this forum is getting noticed.
Cisco saves a few bucks during the wait through attrition of those that were smart enough to look elsewhere rather than being sitting ducks.
Not true. They have set aside $1,000,000,000 for redundancies, they have to announce that at the earnings call.
The ELT was forced to preannounce due to the leak. It was never their intention to announce it early. We had the choice between being early or being blindsided.
You make it sound like this is unusual behavior for Cisco and not the typical yearly practice that it is.
Cisco always sets budgets at the start of the fiscal year. Some business unit in hot areas get increases in OpEx and declining businesses get decreases.
Less OpEx means less people and thus, limited restructuring which results in layoffs.
The process is not instantaneous. The public needs to be notified, lists need to be made and go through a review cycle with upper management and legal.
This happens almost every year (actually twice this year but hopefully, possibly an exception).
Cisco pays you for 12 months a year so you have an ethical obligation to work all 12 and not slack off for one month every year.
There's really no good way to do it. Getting blindsided in February the day after the earnings call wasn't fun either.