Is the bonus number locked before LR decisions were made ? If it ain’t , this will end up being another way for Cisco to shift $ from bonus bucket to severance and pay less overall
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I believe impacted employees will be paid at 1.0 IPF
I believe you are wrong.
I believe impacted employees will be paid at 1.0 IPF
Happened before LR
Ask the FLM whether what they entered in the system changed.
Certainly when they set their bonuses, it was too soon for them to know who was to be impacted… but not to say that their leaders didn’t manipulate after.
FWIW, mine barely moved (and some change is normal).
Bonus planning and LR planning happened in parallel/simultaneously; although, it's not necessarily planned at the same level. Meaning, some VP/Dir didn't engage first level managers in LR planning. In contrast, all Mgr levels are involved with rewards planning.
However, the budget magic you're suggesting (reduce bonus to pay more severance) would happen strictly within Finance, presuming that it complies with relevant accounting regulations. This isn't something that any leader level (VP, Dir, Mgr) would decide. The 61% company performance factor does seem artificially low, and perhaps some of that CPF was creatively carved out and intended to be used for severance...no idea how that would work since I'm not in Finance. I've also not done the math to see how that lost 39% CPF compares to the $1B charge Cisco is taking with the LR (and/or with the PTO payout).
What the simultaneous bonus & LR planning allowed was that it gave Mgrs the ability to adjust the IPF of a person on the LR list, which then affected IPFs of the remaining team.
I think Cisco is squeezing employees with our bonus because of the LR and the US PTO payout.