Upon last year's mass layoff, most of us got significant pay raises. Not this time. What a pity. I just wonder what Cisco is doing with all the money it saves.
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Would a 5% raise make a difference? Leaving is still the better option.
The money goes to paying the execs their ridiculous bonuses. They make over $300k in salary and get bonuses that in the 75% and higher range. Don't forget their stock plans that automatically refill when they sell stock.
The OP is an SVP with the company obviously.
Layoffs = cutting costs = bigger bonus for ELT.
They get their bonus whether they cut costs or increase revenue. Once you become a VP you cannot lose. Even if you ship a sh--ty product that nobody uses (cough Intercloud, cough SPVSS, cough cough Ume), you still get a massive bonus.
@OP - is that a wah?
The money saved goes straight to the bottom line as imaginary profit.
If sales are flat, or in slight decline, the only way to inflate profit is to reduce costs.
Profit = dividends = happy stockholders = ELT success.
(Nearly) everyone wins.
Significant? Ha ha. 1% and first in 5 years. You troller!
No pay raise here.... but, I was just laid off and got notification of a new RSU grant. Isn't an RSU grant a retention tool.... they love me, they love me not.....
I also would like to know what pay raise is being referred to. Most of my peers and I have had no raises for over 5 years. In a way, I am glad about that. Maybe it will keep my name off of the LR list as I won't be considered as too expensive.
What's a pay raise? Serious question.
I bet you a pound to a pinch of sh--e CC, TB, YK, IG, and all those other dozy failures will still be getting a large bonus.
@OP - where do you think the cash for the leadership's staggering salaries and bonuses come from? :-) And don't they deserve every penny.