Word has just came down from the top brass - 10% workforce cut globally. Will be effective day 1 of new fiscal. Names need to be rolled up in the next 2 weeks. Plan accordingly.
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half of CX can be cut and there wont be any impact to customers. too many deadwood snoozing around.
I heard there is more Coming for CX. MM has to make room for more friends.
"I am a VP and can confirm the 10% cut. In some orgs it might be up to 30%. My boss is scared as hell."
Tick...tock. Work your rear end off to close the quarter/year, then get summarily eliminated.
I am a VP and can confirm the 10% cut. In some orgs it might be up to 30%. My boss is scared as hell.
Sounds like that 10% number is accurate and upper management is nervous as they play Game of Thrones again.
What's the latest info on this in USA?
10% across most teams. Sales and Service will be hit hard. Marketing as well (Gerri doesn’t see the point in marketing).
SP BU and SP Sales will be hit hardest. They are down 30+% y/y. Poor b--tards.
Good selling everyone!
What's the latest info on this in USA?
Can confirm @aoak for Australia Severance Package
I can only speak for Australia.
4 Months base plus a service component based on years of service ranging from 3 weeks for 5 years to 33 weeks for 15+
6 Months medical
Australia Tax law is great for redundancies. 0% for the first $110k and a nominal amount up to 205,000.
Long service and PTO are taxed at a lower rate as well.
Does anyone know what kind of package they give if laid off? Is there any formula based on how many years of service? Or is it just random?
Cisco has targeted people with recent pay raises in the past.
Makes sense with the recent hiring freeze placed on some open recs been waiting to extend offers to.
The definition of global, Aug 1st, will be loose though. Different geos take different time spans by legal requirements. Super easy in US, super difficult in France & Germany, and most other places in the middle. So plans at the very least will be ready for then, and processes may have started in some areas, but not all will be complete by then, it will continue through FY20.
The only thing new / different this time is that it appears to be global. Whereas, in the past, “rolling LRs” were done geo-by-geo and BU-by-BU, each being done in a different period.
Nothing new here.. happens every year at about this time. Certain sales teams will be hit especially hard.
...to cover those who just got pay rises, also effective day 1 of the new fiscal?
I’d be surprised if this is new news, given Impact invites haven’t been received by all who theoretically should be eligible to attend.
Yep, had a call with my leadership
On Thursday about it.