In P&C… nope, no more Early Retirements. Too expensive
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Cisco would have to actually care about employees to do an ER. I saw people impacted due to age, and salary, and Cisco‘s legal team are experts in the industry at covering the tracks. We’ve gotta make the investigative reporting news for things to change around here. I was only safe because I kissed up to an EVP. What a sick culture we have around here these days, but I need to make it a few more years to retire before Cisco decides to retire me. I’m just keeping my head down and my mouth shut in the office.
Never again.
@1gvz+1uOxvYeC - I don't remember the year the ER was first offered (before the one in 2011) but it was approximately 2-3 years prior. At that time, I wasn't old enough to take the package, but by the time the company offered it again in 2011, I was & I did - not because I wanted to leave (after 16 years w/ the company) but because HR sent all eligible employees an email every Friday for 6 weeks reminding us of (1) the deadline to make our decision and (2) a threat that if we didn't take the ER at X dollars we could very well be LR'd the following month with 10% of that offer. I took the ER but returned 4 years later.
The next ER was in 2021; I lost a favorite boss on that one who I was sad to see leave (but he was happy).
@hyp+1uOxvYeC, do you remember the dates of the 3 ERs?
The first had to be before 2006 because that’s when I joined. I remember the one in early 2011 followed by the huge WFR (aka LR). The next one was what, 2021 or 2022? The whole 2020-2022 yrs just ran together for me.
Never again
I doubt they will for many of the reasons already mentioned here.
But PLEASE PLEASE PLEASE bring back just one more round of ER
The company offered the ER package 3 times (not twice) and each time lost good employees by the bus load. After the last 2 times, the company said it would never be offered again, so based on that, anything's possible.
Feel free to retire as early as you want. After making this catastrophic mistake not once but twice Cisco finally realized they were paying a year's salary to get their top people who can get a new job in any market to go to their competitors the following Monday.
No, they would have given it to you before the LR. If anything like that happens it could happen in February.