Some people are saying that since the ER package, as compared to 2011 has significantly less benefits, it is better to wait for the LR.
How sure can you be that LR package won't be scaled down too (by as much as 50%)?
LR package is not a right.
7 replies (most recent on top)
Many companies these day payout any PTO remaining balance and provide one week pay for each year of service. Benefits usually expire end of month with option to convert to cobra.
Packages get smaller as companies die. Of course, the LR package will be small. Next year it may be gone entirely
they have always targeted older employees and have had several lawsuits placed under the rug. This not well thought out ER was to have a high number of older employees take it, but it was really bad offer. Considering the real power of the company is how employees act together as family and are always working together for customer and internal success, but unfortunately the management and ELT do not do the same.
The problem will be that they will have to LR a large number of older folks in the US and that will align with a long overdue lawsuit Class Action Lawsuit, which employees that got fired should make more than the ER package.
And if the H1B folks don't get a pay cut and the BB do, then the two become closer together - Cisco accomplishes more pay equity and lowers salaries across the board. It's BS.
To be completely honest, Cisco doesn't have to offer ANY package. They can let you go, sign over the paperwork so you can collect unemployment, and be done. IBM went almost this route with a layoff about 2 years ago or so. The notified employees were given 30 days pay and benefits. That is it. Cisco could go that route. They have no obligation, especially in RTP. NC is an At-Will state.
All I can say is if the ER is reduced, the LR will be reduced even more. I would also suspect when it is done a new pay range discussion with all employees will be done. Basically saying you are at the max in the role and won't see any pay increases. Or worse, being told your new pay grade is below what you make and you have a choice to accept or quit on the spot.
I think the poster is under estimating how much the LR package will be cut. rumor has it (for what it's worth) it will be less than 50% of the current offer. Think more like 33%. The ELT has stated as much. Maybe if they weren't playing such silly games with "Conscious Culture" they would've laid out what the packages were going to be, there would be higher interest.
Makes sense that the LR would be scaled down as well. What did the 2011 LR package look like?