Thread regarding Cisco Systems Inc. layoffs

Feast for investors sells workers short

As US companies spend billions repurchasing shares, employees and economy may pay the price

https://www.bostonglobe.com/news/nation/2015/05/30/companies-pour-billions-into-buying-back-stock-but-workers-and-economy-may-paying-high-price/8vi1toy4kZBr59ykKYzdNL/story.html

Oh, @1zwl summarized it so beautifully. It is a two way street indeed, and our kids learned watching us suffer. I have a 26 yo and a 29 yo - both of them are super-frugal and very cautious with debt, another thing that makes them different if compared to my generation.

This, in turn, allows them to be more 'choosy' and to have flexibility. We are in California and both went to a community college and transferred to UC, worked while in school and have minimal student debt.

I do have hope in the Millennials after-all...

I think it's less about a sense of entitlement and more about having witnessed generations before them work their lives away...only to be laid off with very little to show for it. It stands to reason that people, not just Millennials, are tired of jumping through endless hoops for employers who view them as disposable pawns. Loyalty is a two-way street.

The sense of entitlement is ridiculous. They expect to graduate from school and become a director within 2 weeks after their hire date. I'm surprised their helicopter mom isn't there cleaning their cubicle and making them Mac and cheese.

Many live in mom's basement and can afford to be brash and choosy.

Will be a rude awakening when the next tech bubble pops and they have to compete ith seasoned, hard-working older people

I don't know who you are hiring, but we lost all of them in 12 months. I think your idea of the grads being naïve and gullible is severely out of date. The millennial generation won't take crap at all. One of our grad hires was in the role for a few weeks (refusing any entry level jobs) before she stood up in front of JC at a company TV session and said her talents were being wasted and wanted a new role. Ballsy. But not totally unusual.

Today we get good grad engineers, we used to get only excelent engineers and pass on the outstanding ones

College grads are the easiest demographic to attract/hire. They're hungry and desperate for jobs when they graduate with huge debt loads. They're also naive and idealistic about starting their career and think it's great to start out at a major player in any industry. They don't realize the goalpost is always moving, though. Nevertheless, it's companies' own fault if they can't retain employees, regardless of industry/sector.

You realise how hard it is to attract/hire college grads into CSCO?

And then to retain them? If there were such a plan in CSCO, it's dead in the water.

Good luck indeed, we'll need it in August