The yearly circus has begun and the first set of people have been notified. Long live Chuck...
11 replies (most recent on top)
Maybe Two Buck will leave, they can throw another star-studded private concert for $XX Mil, so he can come running out on stage like a tool to measure his Vienna Sausage and dance upon the career graves of thousands like Chambers.
With lay off i believe Only Trump can help to stop with H1B and Outsourcing double edge sword.
If he put limit on Out sourcing and allow only few rocket scientist in the country under H1b category 1. and current H1B should not be renewed after 7 years.
Immigrations should go back to old system on H1B i.e no extension under 140 approval or EAD.
Ex CEO after retiring mentioned how he displaced US worker with H1B.. he did not think of it while he was CEO.
http://economictimes.indiatimes.com/nri/visa-and-immigration/using-h1-b-visas-to-displace-us-workers-a-mistake-john-chambers/articleshow/59879831.cms
Most of the layoff are happening pool of H1B is still increasing from India & China. Why would Cisco or FB hires american worker if there are H1B on all category skill willing to take job under 70K.
Cisco layoff strategy is based on demand and supply. Cisco does not want to put resources in training their own people for new skill, Their CEO has mentioned multiple times they lay-off and hire people with new skill .. and this all goes under the grab of getting new H1B cheap work forces.
Govt. should also increase the taxes on corporate by another 5% which they can claim as expense on training the older American worker to enhance their skill and penalize for laying existing worker.
I was lr'd back in Oct 2014 after 14 years and being 62 years old. My pkg was fair, not great, I wish it was like the prior EERs but chucky and company decided it was better to screw the workers with a much smaller pkg then early voluntary retirement. I took two months off for the holidays, started a new job in January 2015 making 35% more then sh--sco was paying me. There are really great companies outside of the borg community. Don't quit, take the pkg. I banked my seps pkg and doing quiet well. I actually feel really good that my mgr took it upon himself to give me an LR pkg. :)
Have faith people. If you are squared away, getting sh!tcanned can be one of the most life changing events one will experience. It does take time to deprogram and return to pre-Cisco reality perspective.
As far as loyalty, abandon any department or company loyalty. Regret saying that.
I think Cisco is trying to get rid off the dead wood that's adding no value irrespective of age because I personally know at least 4 people in their 20s that are utterly useless and most likely to make the list this culling season.
Not in my BU. Younger, less experienced people were kept in favor of letting go older, more experienced people. Our team was pretty much all the same pay grade, with a couple of college hires at pay grade 6.
I wish they'd gotten rid of the dead wood instead of the experienced people. Why does everyone think that older employees do less work. Usually we can solve problems quicker because we've seen similar issues, or even the same issues, before and know how to fix it.
@jqf - It wouldn't be the first time. A former colleague was flying to San Fran a couple of years ago. Next to him were two relatively senior people in HR. They were talking openly about that year's LR program targeting older, high grade, male employees with the explicit aim of reducing the average age of employees and correcting the gender 'imbalance'.
Of course, it's doomed to fail. Very few younger staff seem to stay more than a couple of years. Loyalty cuts both ways and Cisco demonstrates very little loyalty these days.
@OrtBcOF-ell - That is really outstanding! Over $580,000 to make you go away? I'd take that every day. I'm wondering why any company would set up in Europe given that liability. I know Germany is very similar to the example you provided.
Well the severance packages are quite good in Europe specially in France and Italy. With 15 years in service and grade 11-12, they calculate your average salary (incl. OTT) of the last 3 years. With the specific incountry labour conditions/calculation the total package can be easy 500K Euro (gross). So why go to court if you can pay off your mortgage and still have money on the bank left??
@OrtBcOF-vos: really? HR can openly admit that they are targeting specific average age of the employees? If they really did then that's utter stupid; could easily attract litigation particularly in Europe and the US. I wonder why entire Cisco ELT is gray haired if Cisco believes so much in young blood. I think Cisco is trying to get rid off the dead wood that's adding no value irrespective of age because I personally know at least 4 people in their 20s that are utterly useless and most likely to make the list this culling season.
During HR Staff meeting in Italy (3 weeks ago) they announced that Cisco is working (via LR's) to get average age of Cisco employee <42 years old and/or move away of Grade 11-12 employees. Both are getting hand-in hand, because it take a while to get to this grade a Cisco.
When and where because it's probably part of the 1100 he announced. Some countries have different timelines. We don't know what's going to happen in q1 yet.