- 5k are already LR/ER'd. According to Washington Post, that is part of 8000 contingent to be let go.
https://www.bizjournals.com/sanjose/news/2020/12/16/cisco-has-cut-3-500-jobs-since-covid-19-hit.html
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Aren’t those dates too close to recent LRs and too. Lose together also?
Where do you get those dates?
Enjoying my post-ER time......thanks Cisco for helping me meet my end of 2021 retirement target date without having to work for the last 14 months of me retirement timeline. This is one happy old guy!!!
Don’t those of us who took the ER count against the 8000? That was another 3200 or so.
Hope Silicon Valley does not become the Detroit of auto-industry. Most of these companies were formed and became giants here in Silicon Valley. They have made billions of money using the talent, education system, young engineers trained by experienced older workers here.
Instead they are taking their money and trying to hide it somewhere else.
Greed and money by upper management will k–l these companies soon.
They already made us train and outsource thousands of jobs. Now they are trying to shift HQ to save money? Didn’t they save billions by moving money from overseas accounts to USA ? Didn’t they distribute millions of saved money due to lower taxes from 2018 ?
Cisco had a vote on re-incorporating in Delaware as part of the 12/10 annual meeting. No idea how it turned out. But one aspect of California California General Corporation Law includes provisions that could still make Cisco a "quasi-California" corporation if too much payroll goes to California employees.
- Payroll Factor – A corporation’s payroll factor is calculated by dividing (i) total compensation paid in California during the taxable year by (ii) total compensation paid elsewhere during the taxable year.
Reincorporating to another state almost requires that California shift a sizeable chunk of headquarters work elsewhere. For so many years leaders have refused to accept that the work can be done just as well and much more cheaply in other states. So many orgs have developed in RTP only to wither when a new leader mandated San Jose only. Covid has proven beyond a doubt that people don't need to be in Silicon Valley.
Not a lawyer.
All CA sites are in the planning for dramatic LRs...it won't be an official relocation, but in effect Cisco is following Oracle, others...
Technically the jobs won't disappear... rehire in India or through temp agencies in America. There is no need for Cisco to pay for health insurance or retirement benefits.
Are those LR dates for non US regions or are they doing another round in the US after February earnings?
“ CEO Chuck Robbins said it would be “silly” for profitable companies to contribute to the resulting unemployment crisis by cutting jobs.
“We’re actively involved in the community trying to help people who’ve been impacted by this, why would we contribute to the problem?”
WHY??? MONEY, GREED, POWER, BLATANT DISREGARD FOR EMPLOYEES MENTAL HEALTH!!! Duh...
Next LR trains will be departing on these dates to "transport" the remaining 4.5k folks.
- Jan 12, 2021
- Feb 4, 2021
- Mar 8, 2021
If they don't put you on those trains, you will be safe till mid-May and then the big one will take place again in August.