We will all take paycuts because bonuses and stock purchase will be lost. Probably car allowances as well. Base pay will transfer.
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What will happen to things like car allowance. Its a sizable amount of money but not part of T&C's. Pretty harsh to suddenly lose that because the part you work for is sold off.
What will happen to things like car allowance. Its a sizable amount of money but not part of T&C's. Pretty harsh to suddenly lose that because the part you work for is sold off.
You don't get a pseudo-redundancy package just because someone bought your company.
The 0.1% people do. They are called change of ownership or change of control contracts.
Do not fear people, I read the People Deal last night - we're in safe hands!
No way would a caring compassionate company like Cisco do this to it's employees!
The same thing will happen as when Cisco took over.
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All un-vested share options and RCU's will be declared zero value
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You will get no compensation at all above and beyond your normal salary
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You will be asked to sign a new T&C document
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Life will carry on as before until changes need to be made. I assume whoever buys SPVSS will want to make some changes very quickly
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You either carry on and make something of it or you leave. Some will be asked to leave and others will be incentivized to stay ie cash and/or options as a retaineR
That's it. You don't get a pseudo-redundancy package just because someone bought your company.
There will be free Superland trips for any believers still on board.
Dirka dirka dirka Mohammad jigs for more money
Compensation... you will be lucky to have a job. If you want to be "compensated", look elsewhere and leave Cisco.
will lawrenville GA be affected?
Sorry SPVSS folks, you're out of luck on salary raises in this round.
Call it the sheeple deal, call it bad timing but at least be grateful that on Thursday this whole sorry chapter will be over and you'll have both a new owner and a new sense of purpose.
That's gotta be worth more than 3.5%.
Onwards!
Nobody really sure whether it will be Permira or some other company. (Just strong rumors, and some managers confirmed that)
Official announcement will happen tomorrow. (This is also a rumor, but this one is very strong and also confirmed by some high level managers)
And if it won't be tomorrow, it will surely be soon enough.
Cisco already confirmed that there will finally be salary raises this year. This is the perfect time for them to get rid of SPVSS instead of spending more money on salaries. (We've already been told there is a freeze for any salary changes - So deal and price are already closed with the buyer)
Are we sure if PERMIRA acquired Cisco SPVSS? There has been no announcement about it.
If this actually happens, employees will be acquired by PERMIRA. So, no compensation will be involved.
Z-E-R-O.
Too many employees to get any compensation.
We've been waiting for long time to get such a prize like they L&T guys or cisco will just LR us. My feeling is that we're all going to be disappointed.
Salary will probably remain the same with Permira. The only downside is we won't have any stock investment plan at Permira.
About a year from that they, there will probably be layoffs again.
Stock just went up by 3.5% and it's official
https://finance.yahoo.com/quote/csco?ltr=1
Don;t understand the question? How many salaried employees?
1.5 salaries + Cibus card
When CISCO acquired NDS we got nothing.... :-(
5 salaries? This is what the l&t guys received.