Shareholders have already figured out Cisco's not meeting expectations. Now employees are feeling it, too. In good times, Cisco employees get a mid-year advance on their annual bonus, paid in March. But managers have just informed their charges that they're getting half the usual amount. Cisco bonuses start off ranging from 4 percent to 60 percent of one's annual salary, depending on pay grade, and are determined by a maddeningly abstruse formula:

(Base Salary X Incentive Target Percentage) X

Company Customer Individual
Performance X Satisfaction X Performance
Factor Factor Factor

X Pro-ration Factor = Total Annual Incentive

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