When do we know (in the USA) if we get a year end bonus or not?
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Good if that's true but I do get a whiff of BS.
If I decline to take the bonus, would that take me off the LR list for next 6-9months?
Why would you want to decline the bonus just to stay for 6-9 months? Would you give up next year's bonus to stay another year too?
But, to answer your question, no it won't help. You can't decline the bonus. And, if you're being impacted, you're already on the list and it's too late to change anything.
When I was LR'd, I tried to find a lateral move, but couldn't make it happen within the target time frame. 30 days after the deadline, the other manager finally decided that he could hire me and contacted me to tell me to ask HR if I could give back my severance package in order to be eligible for re-hire now instead of in another 5 months. What a d-bag. If he'd have his job in a timely fashion, I wouldn't have been LR'd and I certainly wasn't going to give back my full severance package and take what amounts to a 30-day furlough without pay for his benefit. And couldn't he have asked HR before contacting me?!? Sad.
Announcement on bonuses will be made after Q4 earnings call.
I have heard that EOY bonuses will be paid (100% -- not discounted).
I am impacted on this recent layoff and the package has bonus if Cisco declares bonus this year. However I will be getting prorated till June 18th
All the packages given this year have had a 30day transition period, so if their transition period ends on or after July 29th (last day of Fiscal year). They'll get their bonus.
However, I wouldn't put it past Cisco HR/Management to unload people on June 28th, so ensure the bonuses aren't paid out and Cisco saves a few bucks. Note that the people doing the laying off, will get their bonuses. Which is odd, because as a leader if you need to do mass layoffs to meet your targets or improve your business, your business plan has failed, but yet they are rewarded with more stock and bonuses.
No, they won't be eligible - at least not all of them. One have to be employed both at the first and last day of Q4 to be eligible. Most of those impacted (at least in US) won't be on the payroll on the last day.
Grow a pair and have a back up plan... My word.
I don't see any mechanism to decline a bonus.
If I decline to take the bonus, would that take me off the LR list for next 6-9months?
The manager can screw you over. It happened to me when I was laid off in Sept. last year.
Actually, IF there is a bonus, the 1100 recently let go are eligible, prorated and less the period from June 2 to end of quarter. The manager cannot screw them over as the individual performance factor will be set at 1.0. IF, there is a bonus.
As Frank Zappa said " I can take about an hour on the tower of power
As long as I get a little golden shower " Bobby Brown Goes Down
Bet you are the life and soul of the party......tw*t.
We've had years where there were massive layoffs and yet the bonus was paid out in order to retain those that were not laid off. #Motivation
All the directors and above get their full bonus paid out in September (not a split like other employees). So quite a few will leave right after the bonus is paid out.
That really is a stupid question. Do yourself a favor. Learn how to survive as a member of the long-term unemployed, sit on your a--, hope for universal healthcare. Free up your job to someone who gives a sh--. Thank you for your consideration.
How long have you been at Cisco? From your question, it sounds like less than a year so you're probably not eligible for the full percentage of bonus you would have gotten if you had a full year.
They can't determine if the company met its performance goals until after the year ends. Then, IF the company meets its performance goals, and if the ELT decides to give the bonus, they will post in on the CEC. It's usually mid-to-late Aug. You'll have a discussion with your manager to discuss your bonus and then your manager will release your web letter telling you the details of your bonus. The CEC page usually tells when the announcement will happen and when the pay out will be.
Based on the Q3 performance, and the projection of Q4 and the need to let an additional 1100 people go, I wouldn't bet on getting anything other than the mid-year bonus you may have gotten.
If you do get the year-end bonus, you can thank those people who lost their jobs for funding the bonus bucket to pay for your blood money, I mean, bonus.
Deadwood question.
It's usually after the earnings call on the cec. It'll say whether a bonus will be paid. Mid August maybe.
I wouldn't spend it yet!
Shouldn't your manager or HR rep know the answer to that question?