Every where Cisco folks are announcing retirements including posting on LinkedIn. Was there an early retirement package offered or these folks forced out with little or no money? Or this the new ELT strategy on older employees being PIPed?
Share if you know or hear more.
Why so many announcing retirement
Easy to retire with cisco high stock price.
If you're old & white, say goodnight. Cisco doesn't want you. DEI lives on.
ER package can be a gift...
So could the million dollars for everyone who worked at Cisco for at least five years who was laid off regardless of performance that people were demanding here years ago. I'm waiting for someone to demand a pony.
ER package can be a gift to loyal employees who are close to retirement as well as to deserving employees who can advance their careers once those positions open. Certainly more appealing than LR and PIPs
Deleted my LI account. A complete bunch of sh-t these days.
what continues to amaze me is that, despite all of this PIP/LR talk, I am surrounded by so many pleasant, well-intentioned people who do about fifteen minutes of work a day, and even that fifteen minutes may be nothing more than putting in an appearance in a webex call
@ay. AMEN! I have done the same. 18 years at Cisco I got a phat LR payout. I went back to Cisco as a contractor and made $30k more a year than what I was making as a blue badge. I don’t have to do annual training or attend the chuck and Fran show. I’m now working as a 1099 consultant at another company, giving me more tax write offs and working for myself. I’m happier, lower stress and working for companies with a better culture.
Cisco pays BB peanuts and mentally abuses y’all. Taking a package is the best thing I ever did.
Pips are huge in my area.
Manager’s announcement is that the person retired
Everyone knows they just got finished pushing them out.
Back to posting mindless garbage on LinkedIn about how awesome they are
Nice!
Good on ya for parlaying a negative into a definite positive.
Try not to get too cocky about it though...things can have a way of boomeranging, and it's not always pleasant, no matter how good you might think you currently have it.
Stay humble, and enjoy your upcoming retirement.
Can someone provide details of early retirement package from Cisco?
Months of salary, bridge to ?, RSU full vest, medical benefits etc.?
I received the early retirement packages long ago (seven plus years). It was an amazing payout and am thankful. I was able to early retire via the IRS "Rule of 55", where you can annuitize your 401k, from your current employer, for any reason. You just pay regular taxes (no early withdrawal penalty). With the IRS exemption, plus the Cisco payout, I have been working "at will" (contracting and part-time), since leaving. I have even contracted with gigs back at Cisco since then, but stay in the background; am purposefully nowhere near as visible as I was when blue badged. I usually communicate with those at Cisco through an intermediary at my contracting company, and mostly in email only. I will often sit in the background on Webex calls and coach my team on how to handle sometimes difficult Cisco folks. I often cannot believe I get paid to do this, and that we continue to renew our contracts with Cisco. Very soon I am going to completely throw in the towel and get completely out of it all; but the money has been too good. If you look around enough, especially in RTP, there is a bunch of us in the same scenario; Cisco asked us to leave, so we did, but then were easily able to drum up even more money after leaving, than we did while we were there. We know how things really work. It is amazing that the opportunity is still there, mostly because of unnecessary complexity that is permanently baked into Cisco.
Early vest of all RSUs in one go
if there is a buyout program, its a well-kept secret
I actually wish there was a well-publicized buyout program! buyouts are an honorable way to adjust headcount vs PIPing and random LRs