The other thing is that the laid off employees will lose all their unvested RSUs. These shares were granted as compensation for past performance but they can now be conveniently clawed back by the company just because they decide to lay you off. Stock can be a large part of someone's compensation in a tech company. Companies shouldn't be allowed to benefit this way if they decide to lay off employees.
Cisco workforce reductions
31–40 of 351 posts
Re: Cisco workforce reductions
#32This kind of behavior is never tolerated in the market. Your revenue is flat; they lay you off. Right away. No trial, no nothing. Your revenue is down, right to layoffs, right away. Revenue grows but less than guidance? Layoffs. Record revenue exceeding guidance? Believe it or not, layoffs.
lol!
For those that didn’t get the Parks and Rec reference: https://m.youtube.com/watch?v=eiyfwZVAzGw
Re: Cisco workforce reductions
#33>To those leaving Cisco, thank you for your contribution, your dedication, and the mark you have made on this company. We are deeply grateful and are committed to handling this transition with the care, clarity, and respect that defines our culture. Who the hell needs gratitude if you can't earn an income.. seeing all of these layoffs I cant help but think something along the lines of .. Those of use who greatest ass…
lately I've been stuck by the similarities between the conversations workers are having now (we are toiling to increase someone else's capital, and need to reverse the imbalance of power) and the conversations people had in the 1920s and 30s. With the benefit of hindsight we know that marxism didnt help, but I can see why the siren song was so attractive back then. Time to reread Eric Hobsbawm.
Look at social democratic European states for inspiration. High unionization (supported by the state), unemployment benefits, cheap or free higher education.
Companies can still do layoffs, but that’s how you manage the consequences at a societal level.
I know the unionization part is contested these days in Europe, too - but it is still much stronger than in the US.
Re: Cisco workforce reductions
#34"Executive Leadership Team" is such an interesting phrase. Never in several years inside Apple spanning Steve Jobs and Tim Cook heard any such condescending nonsense. I believe it's because they truly didn't think that way.
XCOM (Executive Committee) was my least favorite at one of the soulless corps i worked at years ago.
Re: Cisco workforce reductions
#35"I could not be prouder of the growth you delivered"
Note the "you delivered"...
---
A few lines later
"With this, we are making changes today that will result in the reduction of our overall workforce in Q4 by fewer than 4,000 jobs"
Rough, bit on the nose no?
Re: Cisco workforce reductions
#36The other thing is that the laid off employees will lose all their unvested RSUs. These shares were granted as compensation for past performance but they can now be conveniently clawed back by the company just because they decide to lay you off. Stock can be a large part of someone's compensation in a tech company. Companies shouldn't be allowed to benefit this way if they decide to lay off employees.
False
Re: Cisco workforce reductions
#37This is why corporations need to be owned and operated by the employees.
Re: Cisco workforce reductions
#38This type of thing should come along with a reduction of allowed H-1bs.
Re: Cisco workforce reductions
#39This kind of behavior is never tolerated in the market. Your revenue is flat; they lay you off. Right away. No trial, no nothing. Your revenue is down, right to layoffs, right away. Revenue grows but less than guidance? Layoffs. Record revenue exceeding guidance? Believe it or not, layoffs.
lol! For those that didn’t get the Parks and Rec reference: https://m.youtube.com/watch?v=eiyfwZVAzGw
"Gel" comment
Re: Cisco workforce reductions
#40OMG, press the “read aloud” button. Brings me right back to to computer class in 1995!