Re: OT- Another cool thing about Cisco (Re: Cisco fire staff) [7:2428]

[[EMAIL PROTECTED] (Katson Yeung)]

That makes me remember DEC... I was a DEC employee back to 1992...
they really have some good layoff packages... The earlier, the better.
:)

OOps... OT. Let us change to the right track.

On 28 Apr 2001 21:04:56 -0400, [EMAIL PROTECTED] ("xc") wrote:

>This is an addendum to a previous post.  Somebody asked about for opinions
>about Cisco's announced layoffs of 8500 people.
>
>I responded that every tech company is going through hell right now, but
>Cisco had the forethought and compassion to offer 6 months severance (2
>months automatic, an additional 4 if you sign their severance agreement),
>which stands in stark contrast to certain other companies who not only gave
>no severance, but declared bankruptcy while still owing backpay and expenses
>to employees (the Web consulting company Marchfirst immediately comes to
>mind - the bankruptcy judge of that case has even declared that employees
>who are owed backpay/expenses have to get in line behind the major
>creditors, so you know those employeers are going to get nothing).  Then
>there are stories of people getting severance checks that bounced, companies
>laying off people in violation of the Federal WARN labor laws,  companies
>giving job offers and then trying to retroactively withdraw the offer after
>the offer was accepted (presumably the candidate had turned down other
>competing offers to take the offer which is now being withdrawn),  etc. etc.
>
>If you're going to have to lay off people, offering 6 months severance seems
>to be a more-than-compassionate way to do it.  Several other posters talked
>about similar deals offered by Nortel and other companies when they laid
>people off.  So it's pretty clear that some companies have positioned
>themselves as 'the good guys' (as opposed to other companies who have
>clearly shown themselves to be the 'bad guys'), so that they will be the
>employer-of-choice when the economy picks up again.  These companies have
>tried to preserve goodwill among the networking community so that they will
>have little problem in hiring again.
>
>While I am not trying to downplay the pain that those  laid-off Cisco or
>Nortel employees must be feeling,  on the other hand, they could have been
>working for one of those www.fuc*edcompany.com employers like Marchfirst.
>
> Well, to build up even more goodwil, recently, it was announced that John
>Chambers is cutting his salary to $1.  The chairman (forgot his name) is
>also cutting his salary to $1.  The management stated that since so much
>cost-cutting was going on at Cisco, management should share in the pain.
>
>I don't begrudge company execs getting rich when times are good, but it is
>so refreshing to see execs sharing in the bad times.  A world of difference
>from the usual M.O., where execs slash thousands of jobs and still reap
>their millions.  As stated in fuc*edcompanyL "These guys seem to have worked
>out that you don't have to be an as*hole to make money. Bravo. About fuc*ing
>time someone got a clue"
>
>Now some of you may be thinking that the $1 salary  is just a Cisco
>publicity stunt.  Sure, maybe so.
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