I hear there are layoffs coming the 1st thru 15th of November. If packages are given, how does it work? What is standard structure of package? Based on role, tenure etc
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Garnish with quiet-firing people on the side. Flavour with verbally bullying the left over
higher grades. Finish with putting some on PIP citing BS reasons.
This has started already, seeing it every day right now.
For those expecting the big packages may stay for 20+. Wake up now, these days, when it happens, noone cares of your loyalty. Start connecting to the ones joining the competitors. Your next years rely on them.
The simple strategy here is to pay close attention to what everyone between your boss and VP are doing. What judgement errors have they made, both professional and personal?
I know people who have leveraged this type of information to exult themselves to the highest positions Cisco has to offer.
Sad but this is how the the political types further their careers and fend off layoffs at companies like Cisco. If being sleazy isn’t your cup of tea, it’s unlikely that you’ll get out of the trenches or avoid a layoff.
You can wait until you're canned. Or, you can exit on your own terms. Take a leave of absence, get paid medical for a year, and then quit. Bottom line is that you get paid medical from Cisco for a year which is a big deal when you are on LOA. Of course, you could always go back after your leave but you'd be crazy. Take the leave benefit if you can support yourself for a least a year. Now, before they eliminate this benefit for US employees. It's also a no brainer if you're getting close to your target retirement date.
I'm disappointed to hear all this. I always wanted my package to be big.
@Muppet Show Chef Nice recipe. However, if I was CR, then I’d add another dimension to that to make it more realistic:
5000 50+
2000 early-in-career
2000 forced ER
2000 grade 11+ to save OPEX
Garnish with quiet-firing people on the side. Flavour with verbally bullying the left over higher grades. Finish with putting some on PIP citing BS reasons.
All of the above to be cooked in an LR pot by some soulless, mindless HR lackey charging the planet . A fee that, if saved, could save a few jobs.
Glad I quit during recent months, and did not hang around like a bag-holder for an LR package. Left Cisco UK with my professional self-respect intact.
Nice to visit this forum from time to time on slow rainy English weekends. Glad to see not much has changed for the better.
I can not help thinking whether there is another story behind the report of https://impactgrouphr.com/businesspost/severance-package/ . Who stands to benefit more when a coporation reduces the severance money to the laid-off empolyee and re-directs that money to another HR outplacment company? The laid-off worker gets less money; the comporation does not get the full amont of the saved serverance money; but the HR outplacement company gets a new businesss and stands to make a buck. Someone is trying to rip off the laid-off workers and make another buck while claming that is better for "everyone" involved. If I get a laid-off, I am perfectly fine finding job myself without having another HR company dipping its hand into my severance pay out.
So...based on the HR response in this site, the people that were recently tagged for talent movement are the ones who need to be worried come November. That now makes more sense on the communicated timing of an LR come November.
I find this whole process amusing as there are few jobs for anyone to transition to if tagged. So, quiet quit and start looking! Right now you have been fired quietly.
I have no recipe to share.
I left Cisco 19 years ago too. My ex-manager has not pinged me so far.
So much for any goodwill when those former employees go to partners and customers.
I hear there are layoffs coming the 1st thru 15th of November. If packages are given, how does it work?
Why don't you ask the source that told you about the forth-coming layoff? Nobody here can tell you the details of the forthcoming package. And now, don't bother us here with lies ...
https://impactgrouphr.com/businesspost/severance-package/
The same E&Y contacts contributed to the above content.
The HR landscape for the 2020s is shifting to a model to provide placement and job transition service support, rather than a large payout.
Exit studies recently since 2015 have shown people are commonly staying in jobs, especially when highly compensated and late in career; because the organization has demonstrated large payouts for prior restructurings.
It is very expensive for companies to offer sometimes a nine month to a one year payout. The model is shifting across overall corporate to offer program assistance and a support framework, rather than large payout rates.
Going forward, there will be no packages.
The employee will be notified of their status; and will be allowed two months time to potentially find a new job internally, prior to the termination date.
Benefits and pay will continue until the termination date. Essentially your job for the last sixty days will be to try to find a new job internally.
Historic eight or nine month cumulative final pay packages are rescinded going forward; so don't be surprised when holding out for a package as past restructurings.
Outside E&Y Consultants have advised the Executive Team that the large final payout has been demonstrated not to be effective in several Fortune 500 restructuring case studies. Per the study, the large final payout philosophy mainly results in a tendency for the overall organization's staff to decrease work motivation; especially amongst higher paid and longer tenure employees.
In other words, do not expect what what provided in the past. Lower your expectations; two months to find something else, then out.
For those unaware-Quiet layoffs are already happening everyday and will continue for foreseeable future
This is being done to avoid WARN notices required in each state
Managers tell an employee to start looking and after a month they are terminated without any package
You're too late bro. Packages were already offered two years ago which is when I cashed out.
It's funny because some of my coworkers were exactly like the people on this site. A bunch of wannabe tuff guyz who were convinced they were irreplaceable. When it dawned on them that the party was over these same people were the ones with sheer panic in their eyes, scrambling to lick another boot so they could hang on to the Cisco gravy train.
If you had the opportunity to cash out and decided to pass you blew it big time buddy. Those packages are never going to be offered again, Chuck and his cronies have you right where they want you.