Upvote this thread if you like this ER, downvote this thread if you do not like this ER
18 replies (most recent on top)
I'm done. 21 years. This is an insulting offer and I see how little my contributions are valued. This is not the company I joined two decades ago. I'll take the package but I am leaving with a bad taste in my mouth.
Do not regret not taking the deal it is the only guaranteed money this company will ever give you. Best of luck. Do you think you will be allowed to be working there in your 60s? How many people in their 60s do you see working in your group. This is not 1950.
@1mbf+16vKrspi buying back stock isn't a 10 million dollar a year plus salary idea. These executives are getting paid for entry level ideas at top dollar. Everyone and their mother could parrot the ideas they came up with the last ten years
Package is nearly insulting. Less than 1 yr for 20+ years of service. The Sales organization will largely reject. Worse, there is a potential to hurt morale when the honest attempt was to do something better different.
The big picture is that Cisco repatriated $65B 15 months ago and did nothing for the employees (stock buybacks) . Then they throw out nonsense of "Conscious Culture".
@uhp+16vKrspi yea it's pretty clear this is simply a political move with no intention of offering a decent package
If you can start another Job right away, then think of this as free money.
I thought I heard if you don't "Raise your hand" on the ER, but get the LR, and take Option 1 to depart it is the same deal as the ER. Is that accurate?
When the ER was offered in 2011, like this round, it preceded a pre-announced LR. Eligible ER employees were given 6 weeks to decide. Every Friday during that six week period, employees were emailed by HR reminding them of their deadline to decide AND reminding them that if they were to be targeted by the LR the following month, it would be a much lesser package. Many felt like they were being pushed out the door so they took the ER package. Others felt safe in their jobs and declined the ER - but, surprise! - they were LR'd the following month - with a lesser package. That was our experience in 2011. Take it for what it's worth.
I reviewed my package this morning. It’s pretty weak considering the number of years I have given Cisco and the hundreds of millions I have produced. Everyone I’ve spoken to who have been offered the package are quickly declining. We should have just done a traditional LR and moved on. This was a total waist of time.
they could have given you zero
In the q&a ,its says if one doesnt choose elect program and gets imapcted, if voluntary option is chosen then would recv the same benefits
Consider even LR has two phases, and the second phase LR is a further smaller package. So, this really poses a threat to take the ER even if it is not that good.
If you wait for lay off you will at least get to collect unemployment.
I hit the "declined" button.
Probably true.
Post from TheLayoff.com
It's worse than before.
It's better than it'll ever be again
"why would anyone take this?"
Because of the looming threat of an LR with a package that is far less attractive.
Looks like the plan is c-ap. Less than one year of salary if you have over 10 years of service. In the current economy, why would anyone take this?