Cisco Layoffs
Employees are offered 3 options 1. Reduced work week. Work four days a week and receive a 20% pay cut. 2. Early Retirements for Folks who are over 50 plus have 7 years cummulative experience at Cisco 3. LR happening October 7. Total number to be affected not announced yet. Employees would get job at risk notification to prepare. Taking option 1 does not prevent you from being laid off. However if you dont take it and you are laid off, you might be offered that option again.
I am not an experienced player in the market. But this really looks like an great leadership.
I'm at Cisco now and honestly it's a good company in terms of respect for people
Been with the company 23 years. Sure there has been up and downs but overall a company that treats employees good. Yeah sure, there are groups that have bad mangers, believe me I have had those in my 23 years. Taking the early retirement package with not regrets. Proud to have worked at Cisco all these years.
I heard 8k jobs
Hopefully not as much. If most employees take the reduced work week, the savings across board might reduce the layoffs
How would reduced week work for H1B visa holders? Aren’t they supposed to be working min 40 hrs per week?
What teams are impacted?
Definitely it is not Security, Cloud and Webex teams because they are the one who generating some % of revenue in tough times..
@coffeeman1 Is there any impact on new hiring in this business or freeze across the board ?
I would take option 1 in a heartbeat.
Not understanding why anyone would take Option 1 if u r on the list just stay on full time until u r gone as I thought 80% in Option 1 does not extend anything. Correct?
Yup
Wait, so if an employee gets laid off, can the person choose option number 1 and stay?
Nope.
First 2 options are independent of LRs. You can still be on the LR list after opting for reduced work week.
What does 7 years cumulative means?
What’s LR?
Limited Restructuring. AKA layoffs
These HR idiots keep coming up with fancy terminology so that lay-off doesn’t sound like lay-off.