Friends - the Cisco Contagion is spreading around the SPVSS world. The destruction of a thriving 5 billion dollar business is continuing. Whilst the so called ELT has jet-setted and spent lavishly with their massive bonuses, some in excess of 100% of their salary [published here and elsewhere - you only need to look...] the rest of you have suffered and many have been fired (lets not give is the kudos of calling it Limited Restructuring or any such stupid misnomer - it is firing).
I am not privy to any information not posted here already, however the previous pattern of decimation shows that it comes in waves so my guess would be UK next and then the rest of the world that has not already been done - Far East and Australia.
Many more are being forced, yes forced, into signing contracts with an outsourcing company, L&T, by the use of threats both veiled and un-veiled. Some are even being told that they MUST resign from Cisco if they do not want to join L&T. I am no legal SME but I would have thought that this is probably not, how should I put it, legal in most jurisdictions... If it were me I would be consulting an employment expert and taking some serious advice before signing anything. Don't be bullied people.
Don't sit meekly and think that either your manager nor your HR person is telling you the truth on ANY matter. DO NOT TRUST THEM, It is their job to get you to sign. It is their job to protect Cisco - NOT you. SO take proper external advice and don't meekly walk into whatever your manager or HR is telling you. Register your protest by opening an HR case if you are being threatened. Take legal advice.
If you are happy to sign with L&T then good luck to you. I hope you make the right decision for yourself. At the end of the day it is your choice.