Think that we need to put all of our energy into getting out of this place, instead of hoping that things will change for the better. We all know Cisco is on a wrong path, and the ones that survive all the layoffs will be left working at a failing company. I know, easier said than done, but maybe it’s better to look at other options while we still have a paycheck, then to wait until the end.
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@ZVs6UPW-3xpz - I'm sure your financial advice is sound for a US-based employee but no-one, bar no-one, should be planning for a decade in Cisco as it certainly is a poor company now.
Some of the below has been mentioned here before below is my LR survival thoughts if it helps anyone likely to be in that position over the next month/year/decade:
(a) build and/or keep your software skills both up-to-date and hands-on
(b) build a GH profile to showcase your work from (a) to the open-source community
(c) keep your LI profile up-to-date too and ensure you flag yourself as open for recruiters
(d) write a punchy LI headline statement that isn't BS but does spotlight your skills and what you want to do
(e) always accept an offer to interview...even telephone screening whilst in Cisco helps keep you sharp if the LR hits and you are forced into looking for a new role immediately
(f) if and when the LR hits, give yourself 6 months to decompress from Cisco if you can afford it
(g) accept that you will go through the Kuber-Ross change curve and that you will experience a range of emotions from depression to elation
(h) remember also that you will find another role at a company that is fun, equally well-paid, devoid of quarterly layoffs and that truly values it's people as opposed to treating people as a line on an XLS
(i) and yes, I have been through an LR. Last year, given I was above the 55 year-old line and 6 months on, I'm so glad I'm out, in a more senior role at a fantastic telco company in the UK
Lose 50% market share, double the price, back in business. Easy.
Cisco is not a bad company now, nor then, in the hayday.
The best thing the common everyday person can do, who is attempting to stick with it for the long haul:
A. Max your 401k, stick to index funds.
B. Max your ESPP.
C. When your ESPP vests, (fully realized) sell your original sunk cost into a Roth IRA. You can do this for $7k a year. Buy simple index funds. Never pay taxes again. Diversify. Not your money.
D. I stayed for 16 years, did the above, making just over $110k a year (guessing you make more :) ).
E. See a financial planner, stay away from big debts (expensive car loans, big mortgages; you can easily get your net worth over $1.5M).
F. Then it's your call, on what you want to do with your life...if they do LR ye eventually...
G. It's not what you make, it's consistent planning, and seeking a good financial planner. Think!
As I was saying ...... Anyone think Amazon or Microsoft will be using Cisco hardware?
https://apnews.com/3f36de42be3d45b7bee0d2c5febd2557?utm_source=Twitter&utm_campaign=SocialFlow&utm_medium=AP
I got out in 2015 once my original stocks from 1993 and the early years were gone. I miss many of the people but am in a good place now and don't regret switching companies. I've watched from afar as many friends and former co-workers have fretted and been let go, fretted and not let go, or still toil away. The best people I worked with were there from the beginning, knew what it took to start new teams, new products, help new customers. The switch to software was inevitable, but the golden handcuffs of RSUs, and ESPP have corrupted the company into a resting and vesting den of nepotism.
Folks, there are jobs out there. good ones. I have 3 offers in hand. All better than Cisco. I know for 9 months a year Cisco is a comfy place to be... but think of Q4 every year... wondering if you are on the list, or who from your team is, or whether or not your product will be axed, or if you are being spun out.
If you’ve come in from an acquisition, think of how bad it’s been since you’ve been here. Lack of any real interest/adoption/investment in your business. No plans for how your solution fits in with the greater Cisco ecosystem. The job market will not always be this hot. So get out while the getting is good.
Cisco hasn’t been that company for decades
@1fyh: Until Jeff Bezos decides to out-lobby our CGO. Three, two, one...
Cisco will always generate billions in revenue. We have a government enforced monopoly in the networking equipment industry. How many companies have a Chief Government Officer?
We can continue to churn out buggy products, and provide mediocre customer service. Customers are forced to rely on Cisco in North America & Europe.
They keep cutting back on the severance packages in the US. No sense waiting around for that.