The only reason I have stuck around the last year was because I want the package. I have been here 8 years which is 2 years longer then I have ever been somewhere before. 20 years in this industry, took this job as a red badge and was converted 6 years ago. I just have been here too long and want out.
Not worried about getting another job, my skill set is desirable and in need all over the place, but I a, holding out hope I get called for a meeting. Am I the only one?
@Ou8gvjc-5obh said:
"2) You carry the stigma of being considered unnecessary when prospective employers look at you. Were you an underperforming worker? Were you difficult to work with your peers? Did your management not respect your work/skills/performance?"
not so - it's public knowledge that Cisco is no longer letting people go due to performance, so having been LRd is not an impediment
However,
"5) If you can't switch to your spouse's employer's insurance, COBRA is expensive!"
this is true.
...then just leave! But it's not that simple. I've a wife and kids and a mortgage to consider.
That WHY you should just leave! It's easier to find a job WHEN YOU HAVE A JOB. Leave on your terms and on your schedule. There's no guarantee that the package will carry you over until you find a replacement job.
Things to consider:
1) You'll be facing higher competition for what ever local jobs there are immediately after an LR than if you look for a job between the LR's. All those other guys who got LR'd want that job too. Are you really better than them? Even if you are, do you look better on paper?
2) You carry the stigma of being considered unnecessary when prospective employers look at you. Were you an underperforming worker? Were you difficult to work with your peers? Did your management not respect your work/skills/performance?
3) Will there be jobs available when the LR occurs?
4) Can you land one of those jobs before your severance package runs out? Remember, Cisco will withhold a crap load of taxes out of all lump sum payments, so you'll only see about 50-60% of the money they say they're giving you. Hopefully you'll see the bulk of the withheld taxes back early next year when you file your taxes.
5) If you can't switch to your spouse's employer's insurance, COBRA is expensive!
Save up your PTO, find a job you like on your terms, and give your notice so that you end at Cisco just before starting at the new job. No break in pay, no large sums of money held by Uncle Sam, get a smaller lump sum payment for your unused PTO, and best of all, it leave Cisco to have to scramble to find a replacement worker instead of you scrambling to find a job.
I've been blindsided by several lay-offs when a company suddenly decided to close a business unit or sell it off, or worse, let a small group of people go early so they could get under the WARN requirements for closing an office 6 months later and, of course, caught by Cisco. In almost every case, the job I took immediately after a lay-off was not a great job but it paid the bills. I'd get dissatisfied and then start looking for better opportunities and find a great job where I'd be for 3-5 years until the next blindside.
Good luck with whatever you decide to do.
Someone high up in the management chain decides on August which BUs have to let how many people go. So, I can't imagine you have been selected months ago.
If you think the decision is made that close to the announcement, you're naive. They started figuring out headcount and/or budget reductions in June, started working lists in June/July, had HR and Legal make sure no protected groups are over represented in July, and HR is starting to put to together the letters/packages/script that they will give to managers to give to the impacted employees.
I knew a guy who put in for PTO for a family reunion probably a month before the LR announcement was made last time. His manager already knew that he was on the LR list but couldn't tell him not to take PTO or reschedule it. He had to call the guy on his PTO to give him the news.
I've noticed for the last couple of months that
Someone high up in the management chain decides on August which BUs have to let how many people go. So, I can't imagine you have been selected months ago.
After being on a project for about a couple of years, and having the most experience next to the team lead. I've noticed for the last couple of months that I've been secluded from all of the feature work (work management take notice of) and seen leadership responsibilities given to someone else who already has 10 full plates of work ... lol, not exaggerating. I now spend most of my days, planning my summer vacation, updating my resume and narrowing the list of companies I want to work for next. If this isn't an obvious sign that I'm going to get laid off, then I don't know what is. I hate the sick feeling I get quarter after quarter seeing close colleagues being let go, having to hesitate to start a family or buy a house just because I don't know when I'll be let go. I'm really crossing my fingers this Quarter, cause I'd hate to walk away with only a Thanks, & Good Luck.
I feel a little bit ashamed to say it, but I am in the same boat as the OP. I know people will say just leave, if you don't want to work at Cisco any longer, complain about the toxicity, the ELT, the incessant layoffs, then just leave! But it's not that simple. I've a wife and kids and a mortgage to consider. At this stage I'd love to get a package to leave but even if I don't get lucky this time, I'm preparing to leave anyway. I can't stand it any longer.
Have been putting off starting a family being faced with this uncertainty every quarter. Better get it over with once and get a fresh start than live with this GRR Martin of the tech world everyday.
I got the "you have been restructured" memo and package last may. It was wonderful. Codeing Jobs are out there for the asking. Things are much better than last.
I wished for it in Feb 2016. It came true. I'm now working for a company that's growing and doesn't have a "leadership" team full of idiotic douchebags from Westeros. Making 30% more as well.
https://www.youtube.com/watch?v=_s7qgNMqDJI
+1
Don't want to waste my life longer.
You are not alone! The culture is horrendous and the annual purge is about to begin. Who can honestly say they love this environment and they enjoy getting out of bed to come to work everyday? "Game of Thrones"