Thread regarding Cisco Systems Inc. layoffs

"Quaking in their little boots and complaining about how the severance wasn't fair like the entitled boomers they are". Really? I interview and talk to little wet behind the ears entitled punks several times a week. People like you have an over inflated sense of self worth and talk sm--k without any ability to back it. I like that term "buy out". It's called laid off or let go. Shame they gave have of the people cut anything. Under performers were the first let go, then those working in failing BUs. I'm betting you were in the first group.

Now and then you see folks saying they bought cheap cars, ate poorly and saved money that way. That’s nice. You wasted years of your life, congratulations. You can’t get back those years you wasted. Life is about having fun right now. Stop planning like you know what tomorrow has in store for you. Stop being afraid of LRs. Keep your skills up to date, do your job and relax.

Every LR can be different. I suspect that the package won't be as good as last fall's package because the world has changed. The pandemic is more controlled, folks are going back to offices, and the economy is growing. And there's no "pledge from Chuck" to not to a LR that they need to compensate for with positive PR. I expect that it will go back to the normal package, which is decent considering there's no requirement that they give you anything. That's been 30 days notice and two months severance after separation.

The package last fall was better, but the Early Retirement package was not as good as that offered years back. That one was a year of severance and 2 years of insurance. This one was 9 months of both.

All that said I don't see a LR coming after Q3 earnings. You never know but it would be atypical do have a Q3 event. Best indicator of the future is the past, these things tend to happen after Q4 earnings. Also, it'd be a bit of a black eye to have completed a billion dollar restructuring in Q1/Q2 and then announce another huge restructuring end of Q3. Especially after the "things are getting better" statements Chuck makes.

We shall see what happens, but this site is good for rumors. Its probably predicted 20 of the last 10 layoffs.

@1gol+1aCxVmz0 is exactly right.

I worked at Cisco 18 years. While my Cisco neighbor friends bought expensive cars, I drove a piece of crud and ate canned soup for lunch.

When my time came, I had enough to retire in my early 50s, because I invested.

I used the 401k BrokerageLink function to trade on my own. The best gift Cisco ever gave me was a stable source of income to invest with when the market tanked in 2008.

I run into others friends who have been there since the mid-2000s and joking ask if they were LR'd finally or took a package. Most of the time people do not take the package.

Invest and save. Then you can start your next phase and work because you want to, not because you have to.

Here we go again...

I saw this with my own two eyes. For many years certain colleagues of mine were the typical keyboard gang$tas you see on this website. All hollow talk about how they are indispensable and constantly whining about how they aren't being appreciated. "Cisco better start acknowledging me before I find another job!!!11!"

What do you suppose happened to these same bozos when packages were announced late last year? Quaking in their little boots and complaining about how the severance wasn't fair like the entitled boomers they are. They had spent nearly their entire careers at Cisco and couldn't even leave with any dignity in the end. Pathetic.

Me? As soon as Cisco offered me a buyout I was out the door. I pocketed the entire chunk of change, took a nice break, and enjoyed my simple, minimalist life with the taxpayers footing the bill for my monthly expenses (by the way thanks for that everybody).

Bad news folks, Cisco knows you clowns ain't goin' nowhere. Forget about any packages from now on and quite frankly most of you don't deserve it.