with the exit of CTO, heard lot more people are getting laid off. The 4 that i know are coming from engineering side.
Also, heard the rumours of 14k people from past is true, just that they are doing in phases
Please share if you know more or are impacted
Ain't that the truth? We're not impacted in this latest round (in fact, they are promoting more directors), but literally everybody I know (more than formally) is polishing their resume and working their network. I've just gotten off the phone to departing friend.
Just been informed a whole team I've been working with in the US have been laid off yesterday. There is an atmosphere of fear, malaise around the office and a host of people vigorously job hunting. Cisco has handled this so badly and chopped a lot of very good people whilst some dead wood kicks back and puts pressure on those left.
Cisco used to be such a good company but it's lost it's soul, destroyed it's biggest asset in it's staff and is set for a tough few years.
Overheard a conversation a co-worker said "With more LRs there will be more work less resources which will make us more agile." As crazy as she sounded that's what ELT expects. Unfortunately the sad truth only a few will do more work the deadwood will just ride on the backs of the "agile" workforce. Job search begins "NOW"
yup, there were more cuts in the US today!
I was let go in Q1. I was constantly being contacted by recruiters for positions ON MY OLD TEAM before my final termination date. While the wages were not pennies on the dollar like @1xff mentioned, they were pretty much in line with what I made as a red badge before being converted to a blue badge. Cisco won't let us go back as a red badge, even if we were willing to, for 6 months, so I don't know why the recruiters bother.
Interesting how Bedfont is taking badges. I didn't have to hand mine in until 30 days after I was notified of my LR. I was definitely making regular use of the fax and copier machine to take care of some outstanding medical claims, making a copy of the termination notification, printing resumes to see how they looked on paper, etc. I'm guessing my badge is still in my manager's desk drawer with the collection of red-badges he has from contractors who were not renewed during various quarters over the past year or two.
I was completely unaware that Cisco had been doing lay-offs between Chuck's take over as CEO and the 5500 hit announced in Aug. To avoid the WARN act, Cisco must keep the numbers below 500 in a 30-day period. If Cisco has employment losses for 2 or more groups that combined add up to 500 people in a 90-day period, then the WARN act applies. I guess that they can avoid the WARN act by keeping the US head count below 500 in a 90-day period as I don't think the non-US employees count towards a US labor protection law.
I don't mind lay-offs, work force reductions, limited restructuring or whatever new politically correct term they want to use. What I do mind is when the bean counters and lawyers get together and decide the best plan of action to minimize the costs and screw over the impacted employees. I worked at a company who, in order to avoid the WARN act, let 12 people go in two groups of six. They then waited for six months and closed the site and because the site was now below 49 employees, they didn't have to give notice. To add insult to injury, the 12 people who were let go were let go in mid-Oct and late-Nov so that they were not entitled to collect their 401(k) match donations since the company applied the match to all active employees on Dec 31st.
When I went across to building 10 in Bedfont U.K. The guy taking the badges back and throwing them unceremoniously into a shredder said he was ticking off 450 in the U.K. With 220 of them based in Bedfont ...so guess the numbers are about right there
Yes, they are doing LRs in batches in an effort to stay under the WARN radar. Chuck immediately instigated LRs Aug '15. There have been hundreds LR'ed each quarter since he was knighted CEO. Most impacted are at higher grade levels. Now Cisco is trying to rehire these roles as red badges at a fraction of previous blue badge rate. We who were LR'd (I'm one) are being contacted by staffing firms trying to get us to be interested in our previous jobs as a red badge for pennies on the dollar. Good luck with that. All they will achieve is noobs who will cost a lot to bring up to speed and subpar work because they lack the experience.
3% being thrown around. More sadness and frustration today. I think there is something to that 14k after all is said and done.