I recently heard an unconfirmed rumor that an Early Retirement Package may be under consideration. Has anyone else heard anything similar? If so, have you heard any details or possible timing? Just curious if anyone has additional information.
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cheap behavior
It was not the same as the LR package. Sounds like the ER has evolved into some form of urban legend. I was offered second ER in the series. It was a tough decision at the time; but turned out to be one of the best life choices. It was an incredibly generous payout. I was completely miserable working; it was an around-the-clock existence of misery. Mostly, I had evolved into an overweight yet very functional alcoholic. The only way I could get some decent sleep after a week of twelve hour shifts was to drink at least four pints of beer. That was almost a decade ago. Took the ER, traded in the luxury cars for Camry LE models, paid off the mortgage, and eventually lost major weight, started walking 15,000 steps a day. Still work, but in simple customer service, and do volunteering. I wish could have had the currently developed simple and grounded mindset while at Cisco, but it was the toxic, passive-aggressive, narcissistic personalities that I had to partner and navigate that wore me down while there. I wish others a similar path out. Cisco regretfully was ran, at least the roles I worked in, by some very hollow people, who care mostly about money and work popularity, by building unnecessary kingdoms they wish to control.
It'll happen right after RTP & RCDN close down.
@ce It's the same as the LR package.
Too many fiefdoms and the duke and duchess are rarely moved out to make a space for true innovators. Cisco doesn’t do the “reorganize” that lets a company re-energize.
Not going to happen ever. Innovation in Cisco is dead for a number of reasons:
- it is well known that the bigger the company the higher the costs to innovate so they do spin off companies or buying startups and ideas
- politically filtered -the sedimented layers of incompetent managers are suffocating the org and new ideas can't surface
I for one I am holding on a few exactly because more senior members of the team get to vote them and they will (and they have) vote them down. The managers depend on these senior members to do their work (they use them to make decisions that they should make) so there is no way to get through
BS rumor. Very very unlikely.
Cisco has several different kinds of layoffs depending on conditions:
1) Exit the market LR - goodbye Flip - no one wanted it so they closed the division and cut the people. Also for areas like Linksys that were sold off. Some folks moved to Foxcon others were LR’d. Expect WebEx to go at some point - are margins really that great that you keep a product that struggles to grow 1%? Investors want bigger numbers than that.
2). Restructuring LR - business is “OK” but budget is being cut to slow growing areas and redirected to growth opportunities. That’s what we’ve been having lately.
3) Stealth LR - budget cuts. Not big enough to require a filing or generate press.
4) Oh sh-t LR - business is week, stock is down, we need to trim. These are your general “everyone cuts 5%” layoffs. Here’s where an early retirement might make sense. You can lose a lot of foot experience this way but you are also tilling the soil, letting the people stay grow. Cisco has done two, maybe three of those. Expect one after the AI bubble pops.
Unfortunately Cisco never really sharpens the scalpel. When they do cuts the folks doing the cutting are looking down the org chain not across it. It is exceedingly rare for Cisco to truly “reorganize.” Too many fiefdoms and the duke and duchess are rarely moved out to make a space for true innovators. Cisco doesn’t do the “reorganize” that lets a company re-energize.
So what do you get in an ER package and what are the conditions to qualify for that ?
This will not occur again due to risk. If you are over 40 it's a given anyway.
@az That precisely why they won't do an early ER again. Last time they did it high performing staff took the ER and were working at a competitor after the ER timeout of a few months.
ER will never happen again.
I recently heard an unconfirmed rumor
Welcome to thelayoff.com. Your one-stop website for making up rumors which only simple minded people believe. Ever wondered why /cisco is so active? :)
Haven't heard but it sure would be nice. I think the last one was in 2021 & there would be a lot of takers, including me.