When I saw the ER offer Like everyone I was disappointed because it didn’t look anything like an ER package. Market ERs usually include 1 year salary and a 401k match. This has neither, it’s a LR package if you want to opt in. This ER exercise is only about saving face. Chuck publicly said he wouldn’t do more lay offs and encouraged his fellow CEOs to avoid it if they can too.
By doing this “Cisco elect program” allows Cisco to do restructuring and keep our word. There probably will still be a forced LR, but this ER offer isn’t enough in this economy If you don’t already have a job to go to or have a passion to pursue.
As mentioned in the Pharrell check in they said Cisco is planning a HUGE social justice PR flood in September....they want YOU to be part of the story. It’s not an accident this PR effort is all during LR season.