Thread regarding Cisco Systems Inc. layoffs

Where do you get that deal? Cisco doesn’t offer it.

I didn't say it came from Cisco. It came from Raytheon Systems. They bought out 3 companies or BU's from companies and merged them into RSC. Those that didn't want to merge, or were deemed unnecessary were offered 2 weeks severance, plus 1 week per year of severance if they signed the waiver agreeing to not sue the company. I had just moved to work for a company that, unknown to me, was in talks with RSC to sell off a BU I was joining. 18 months later, I was let go with a whole 3 weeks severance.

Thankfully Cisco has a good, maybe even great severance package. Can you imagine being somewhere and getting 2 weeks severance plus 1 week for every year of service...

Where do you get that deal? Cisco doesn’t offer it.

... live today amd dont wait for tomorrow... It may never come

I hope you don't have kids. Living for today and not caring about tomorrow means that when life happens you don't have funds to get you through the crisis. Planning for tomorrow is how you ensure you have the funds to send your kids to college so they have a better life than you have. And having enough money that they don't have to financially strap themselves to take care of you when you hit that point that you can no longer do it yourself.

Thankfully Cisco has a good, maybe even great severance package. Can you imagine being somewhere and getting 2 weeks severance plus 1 week for every year of service IF you sign the waiver agreeing not to sue the company? Can you you find your next income in 3 - 7 weeks?

Maybe these folks buying new cars and houses are just enjoying their lives everyday while you limit yourself hoping for what you consider a safe future, live today amd dont wait for tomorrow... It may never come

The TOTAL value of ALL your vehicles should not be more than half your annual income.

Cars loose 70% of their value in the first four years.

Listen to Dave Matthews and invest instead of driving the bling.

Im making 100k more a year then when I was a grade 11 (not SJ pay) , but it felt like I had more money at cisco, guess living in your means was easier then, but being debt free is nice and double bonus makes house upgrades a breeze. the only way I could get promo was to quit work somewhere for a year and come back at higher grade once you get to 10 or above. RSUs were nice but once they stopped handing them out as retention tool, I left for the money.

Cisco is a great place to work. Did you ever think that those people driving nice cars are maxing out their 401ks AND backdooring ROTHs AND have 6 months of savings in the bank AND have RSUs AND have an ESPP? Not everyone is living above their means.

Cost of living is very high in Bay Area. With student loans, high rents, and other expenses, one cannot save much.
Most of them jump companies within 2-3 years for better pay these days.
The ones who are loaded are the ones in high profit BU or the ones who were acquired by cisco.
A big correction in real estates price and sky high rents is due or already taking place in Bay Area.

Make sure you attend Group TP sessions and wear the ill fitting t shirt or stupid hat they want you to wear.
Maybe wear your local football team jersey!
Lemmings all of them!

Absolutely. I worked 15 years at Cisvo and left on my terms. Plan, spend wisely, invest wisely, pay off your home, build wealth & freedom. Understand where you work and where you fit in. Shut up if you are a white male. Older workers are always cut first. Blend into the herd, do your job well. Create your own exit plan...keep it to yourself. You are in charge of your future. Nobody else.

Love this and good for you! Saving is a lost art for many but the impact of consistently paying yourself first is huge and very liberating.

Yes people have a spending problem.

You know this is oddly positive advice for this site. Thanks.