Thread regarding Cisco Systems Inc. layoffs

Come to Canada. We are paid peanuts but at least we get to keep our jobs and are growing /s

Nothing because I was laid off and the job market for senior tech is very bad. Exceptions exist... I know I know. But for most of us, it's not good right now.

G10
3% salary increase.
$15K RSUs

1. 2 IPF

it should be visible to see in workday

I work in SBG

G9
3% raise (pathetic)
No stock

You know it's not good when your manager starts your meeting with "I am embarrassed to show you this because you're a high performer on the team wish I could have done more" told him I'm leaving bc that's messed up

How do you find out your IPF? Manager didn't tell me mine

I did OK, but I couldn’t give my team enough for a cost of living adjustment. Not enough in the merit pool.

They do accelerate vesting if you get RIF’d, but only to the next date.

G10
No raise
40K RSUs
IPF 1.0

This has been a disaster. Wife lost her job earlier in the year. Cannot wait to leave Cisco and SBG soon.

Grade12 in SBG
2% raise
50K RSU
IPF 1.2

I heard SBG was bad overall.

G12

2. 5%

100K RSU
IPF 1.2

When asked my manager about the low raise manager said it is way better than lots of other people. I don't know why that should matter to me as I put in the work and added real value.

I think the OP may have meant 120K across 3 years vesting. 40K per year isn't unheard of a G12. Assuming they have actually done the work. Lots of trolling here mostly by those who don't put in the work.

Post from TheLayoff.com

Management here. Calling BS on the 120K RSU even if you are at the low end of the lowest MRR. That is 15%-20% of your base. Base increase and that level of RSU is even a major BS Lol. Nice troll

G12
3%
120K RSU

1. 3 IPF

Stop calling 3% a raise. It's more of a market adjustment for inflation.

Post from TheLayoff.com

150K RSU for real or mistyped of 50K? That is huge at 150K RSU. Never heard of that unless you have done something spectacular.

Top G12 performer. Doing mine and 80% of another person's job, since he/she at G11 does not know what they are doing. That G11 should have been a G8 or G9 at best.
2% plus 40K RSU. Still evaluating if I will stay since I delivered results and shown impact. Unfortunately, Cisco just wants mediocre performance and pay. The hustle culture is long gone.

Gd 12. IPF 1.0 and no stock this round. 1st time I recall getting no stock and I’ve never had a 1.0. Always 1.2-1.4. No communication from my Sr. Dir in the past year other than “ I don’t really know what your team does but keep on keeping me out of trouble”. Deciding whether to chat with him or go to our VP. Having surprises at bonus time is a fundamental no-no per all the company hype.

are they like ESPP where they're valued at the FMV of the grant (purchase) date, or are they valued at the FMV of the vesting date?

The value of RSU (say $50K) is converted to shares based on the price at issue date (maybe this Oct/Nov). Say share price is $50, then you get 1,000 shares. Then shares vest as you state, with 33.3% one year later. Say price then is $40, then you get 333 shares and taxed for income as 333 x $40.

G10->G11
140% IPF
35K RSU
7% raise

G10
I had a 1 on 1 mtg w/ my manager on FY24 Rewards.
He told me that he heard some bad things about relationships with several colleagues of mine. I had no idea what he was talking about. He didn't even mention who said what about me. I asked him to explain in detail, but he refused. For that reason, he said that I would only receive 90% instead of 100%, which I felt so unfair and unreasonable.

It's time to report about him to...

1%
6k$ RSU

1. 29

G10
60K RSU
IPF 1.3
No raise
No promo

However, last year I did get hooked up with 70K RSUs and a massive 18.73% raise between Cisco remix and merit and ad-hoc. So no complaints here.

Usually grade up is +%8 to 9%
Btw once again what is IPF

10->11, 9% raise, no RSU

G11->G12, 75K RSUs, 8.75% raise.

G12 2% raise (first one in 3 years) feels like a bit of an insult.

I had a really great rewards converstion. The raise and RSUs were unexpected. So of course I now feel like I'm at the top of the LR list if/when that happens. Nothing like distracting the employees with shiny objects to keep you off balance.

I passionately hate to speak with my manager for many different reasons. I feel so sick as I think about it.

He is a 23-year long tenured guy with no experience outside Cisco whereas I have lots of experiences and skills at several companies prior to Cisco. He is almost like stupid to me. What's worse, he is much younger than I.

What is IPF? I m AM and haven’t heard about it

Grade 12
$20,000 in RSU
110% IPF (lowest of my 4 yrs with Cisco)
No raise.

My understanding is that RSUs are supposed to be for higher grades and for people who've maxed out their pay relative to the pay range for their pay grade so that they can receive greater compensation and retain them for a couple of years while they wait on their RSUs to vest.

On the other hand, since Cisco likes to target older, more highly compensated employees for layoffs, I would think that receiving RSUs is a bad thing for people close to retirement. In the first place, if you're within 1-2 yrs of retirement, having a 4-yr (or now 3-yr) vesting period for your RSUs means you won't be an employee when half your RSUs vest meaning you get half that "bonus" you were promised. Another thing is, receiving RSUs just puts a bigger target on your back by allowing the bean counters to save an addition 33-66% of the awarded RSU value by laying you off after just a year and saying 100% if they lay you off before the 1 yr anniversary. Face it, they award RSUs in Oct and have LRs in Aug, so you could be let go next Aug and they just saved $20-50K in RSUs and didn't have to give you a bigger IPF to grow your year-end bonus, or give you a raise and pay out that money over 20 some odd pay days.

I'm wondering if this RSU bonus that I get "over the next 3 yrs" is worth having the savings target on my back during the next couple of LRs.

3% raise, no RSUs. Grade 11.
Didn't really have any expectations. So, it's alright I guess.

This looked like a level 6 to 8 without promotion. Maybe your team are loaded with G11/G12 - which is very possible for long standing (aka legacy) product team. I found it is hard to believe that G11 has no RSU

G11, 1.5 IPF, 2% raise, $20K RSUs. Manager had to get stock from other teams to hit $20K.

Management wasn't given much on some teams, despite the record performance. The funny thing is that Cisco corporate specifically rebalanced (remember the remix, anyone?) compensation last year to be base-comp heavy and bonus lighter because Fran said people wanted to take more money home. That was important to them - taking more money home.

Now, we see a ton of people getting great bonuses but no meaningful movement on their base comp, despite the fact that our base comp is notoriously low compared to other competitors for talent. It feels disingenuous for Cisco to rebalance something saying, "We hear that the people want more money monthly," and then give no raises or give raises far lower than the standard cost of living increase, in a time where inflation has skyrocketed and profits are historically high.

3% raise, no RSUs. Grade 11.

Didn't really have any expectations. So, it's alright I guess.

Dollar for dollar this is one of my worst rewards cycles and I think it’s frustrating for a couple of reasons for me personally.

1. Record profits.
2. No constructive feedback whatsoever.

It’s not really about an individual’s performance, it’s all about what larger Cisco gives out to. Just seems like no one is actually in control.

Grade: 8
IPF: 115% (or 1.15) Also lowest ever, but told it was due to the team's smaller reward budget.
Raise: None, but I think that comes later in the quarter. I can't find any mention of a raise in last year's Rewards document and I know I got a raise last year. Although it was definitely less than inflation, so calling it a "raise" is laughable.
RSUs: $20K - First time ever to get RSUs.

How do the RSUs work? I see that as of this Sept, they vest over 3 yrs instead of 4, with the first 34% vesting after 12 months and then the remaining 64% vest at a rate of 8.25% every quarter. My question is, are they like ESPP where they're valued at the FMV of the grant (purchase) date, or are they valued at the FMV of the vesting date?

With Cisco at a high that it's not seen in 15 yrs, who's to say that these $20K RSU's will be worth $20K when it comes time to sell them? I understand they're taxed as reg income on the vesting date, but if they're underwater am I paying taxes on a loss? Total RSU noobie.

"Don’t call it a raise if it’s lower than inflation."

I didn't even get a raise. I got $15k RSU along with my apparently record-breaking bonus. G10.

Wait your IPF was 10x???

Current salary is mid-range for G10.
No stock (1st time ever), no raise after 2.5% last year.

1. 10 bonus multiplier (lowest since I've been at Cisco).

Don’t call it a raise if it’s lower than inflation.

Mine last week was 2.5% raise and 40k RSU. Kind of a joke. Time to start interviewing again. 😝

No promotion,but Chuck told me that I will replace him in future.