By Denny Jacob

--Cisco Systems Inc. is shifting a portion of its workers' pay out of bonuses and into their base salary in response to concerns about inflation, Bloomberg reported.

--The change in compensation packages will begin at the start of the company's new fiscal year, the report said, citing Cisco Chief People, Policy and Purpose Officer Fran Katsoudas.

--The company is also experimenting with a four-day workweek and is looking to reduce its real estate footprint by as much as 30% by closing some older offices and creating new "collaboration hubs" in New York, Atlanta and other cities, Bloomberg reported.

Full story at https://www.bloomberg.com/news/articles/2022-04-18/soaring-inflation-has-prompted-cisco-to-change-how-it-compensates-its-workers

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

April 18, 2022 10:41 ET (14:41 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Cisco Systems (NASDAQ:CSCO)
Historical Stock Chart
Von Mär 2024 bis Apr 2024 Click Here for more Cisco Systems Charts.
Cisco Systems (NASDAQ:CSCO)
Historical Stock Chart
Von Apr 2023 bis Apr 2024 Click Here for more Cisco Systems Charts.