11–18 of 18 posts
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If they're losing money every day, closing down for 4 days makes sense.
Yes, as much as closing down for the whole year.
There is very little information in this article. In fact, the headline pretty much sums it all up. A quote or two to put this in context would have been nice. The article implies the shutdown is a cost saving measure, but provides absolutely nothing to back this up. It doesn't even mention whether or not employees will be paid for the four days. For all we know, they could just be giving employees a little more time…
Earlier quoted context omitted.
I had my doubts after reading the gigaom article, but the Reuters article I found mentioned a statement from a Cisco person saying it is a cost saving measure. I guess it's a safe assumption that employees will not be paid for these days. Can your "friend" share a little more information? So far, there seems to be very little information available.
If what you say is true, this measure doesn't seem to make any sense. If their employees cost more than what they produce every day, doing nothing for 4 days is similar to closing your eyes and wishing the problem away.
IMHO this is a silly attempt to cause panic.
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i have a "friend" who "works" there. this really is a cost saving effort.
I had my doubts after reading the gigaom article, but the Reuters article I found mentioned a statement from a Cisco person saying it is a cost saving measure. I guess it's a safe assumption that employees will not be paid for these days. Can your "friend" share a little more information? So far, there seems to be very little information available.
Earlier quoted context omitted.
i have a "friend" who "works" there. this really is a cost saving effort.
I had my doubts after reading the gigaom article, but the Reuters article I found mentioned a statement from a Cisco person saying it is a cost saving measure. I guess it's a safe assumption that employees will not be paid for these days. Can your "friend" share a little more information? So far, there seems to be very little information available.
This type of thing has also happened to other friends of mine. It's a cost-saving maneuver and also helps lower the companies' liabilities due to having so many vacation days on the books (since the company has to pay you money for each vacation day you have once you leave).
Cisco has _always_ virtually shut down between Christmas and New Years IIRC. People always take time off during the holidays: it isn't worthwhile to keep the whole business running. It's always been their unofficial policy, if not official to do so. IMHO this is a silly attempt to cause panic.
Earlier quoted context omitted.
I had my doubts after reading the gigaom article, but the Reuters article I found mentioned a statement from a Cisco person saying it is a cost saving measure. I guess it's a safe assumption that employees will not be paid for these days. Can your "friend" share a little more information? So far, there seems to be very little information available.
My friend works at Cisco and told me about this last week. They are indeed taking the days out of their employees' vacation days. If they don't have any vacation days, they will be on unpaid leave for the week. This type of thing has also happened to other friends of mine. It's a cost-saving maneuver and also helps lower the companies' liabilities due to having so many vacation days on the books (since the company ha…