When Cisco sold us, they committed to pay us bonus for one year at least.
In May, they sent an email about bonus being paid in September and not August.
Now, there is no bonus!!! Where the “People First” did go?
I am afraid we are dealing against a lying management.
What is next? Cycle of layoffs?
This sh!tshow is going to be fun to watch. I got my popcorn ready.
Are they going to be layoffs in Israel?
And the excuse for the bad financials? Didn't live up to the figures Cisco sold them. Really? We all lived Cisco and they're a selling machine so how can you be surprised they did a good sales job? Especially annoying that our CEO was head of sales so he had to know the figures were ****.
Doesn't wash I'm afraid. Sooner this guy goes back to selling and a real leader takes over the better but I fear the damage is now done.
well, the email should have stated.
"we are sorry, we had to let go a few very well paid executives, the their severance pay ate up all the free money we had for this year, so tough luck for all of you, we reserve the right to hand out bonuses to the remaining well paid executives because those yachts won't pay for themselves"
Layoffs are all but confirmed before the end of October. London seems safe but not Lawrenceville.
Got told I was getting a bonus this year. Lol, right...
Also, the TUPE faq stated that for the first year the new company would follow the Cisco method of calculating bonuses. In E’s email he simply mentioned that investors made the decision based on profit - but where is the transparency on how this was all calculated according to the Cisco formula ?
In all seriousness, I would think there could be a legal problem in a company communicating a bonus would be payed, then pulling the plug. Unless the e-mail communication covered themselves, but I don't remember any legalese that did.
Only Lvl-12 are "the people"... LR definitely in Oct.