If laid off late 2019, is severance paid out in 2018 or early 2020?

Lots of talk about major layoffs soon.

My question is this: if I get notified that I am laid off on (for example) Dec 3, 2019 with two months severance, is the payout made in 2019? Or is the payout made in 2020? The year the payout is made will definitely affect taxes. Getting paid out in 2020 would be better for me because of usa taxes.

Also what is one's last day as a Cisco employee after being laid off? Is one's last day the day your manager tells you you are being laid off? Or do you officially remain a Cisco employee for 45 days more if you have 45 days to find (theoretically) an internal job? So if I had 45 days to find a job and I am laid off on Dec 3, 2019 would I still be an employee on Jan 1, 2020?

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Thanks to both individuals who responded. Much appreciated.

I was LR'd earlier this year. Notification date was July 31 and pre-determined termination date was Sept. 16. I was given a 6 week period to look for another internal position. Your package will state what your last date of employment will be, which is generally 45 days after notification. You have the option to leave the company at any time after your notification date, which would then be your last day. In doing so you forfeit 6 weeks pay by staying on board until your stated termination date. Once you are notified, "your services are no longer required"; you will no longer be required to report to work or are expected to work. If you opt to look for employment outside of Cisco over the following 6 weeks, you might as well stay on board and collect your paycheck until you secure another job or your term date. If you are notified on Dec. 3 your term date would be 6 weeks hence and your payout would be made shortly thereafter.

OK, so here's what happened to me. My last day was early December 2018. They made sure I got all severance by the end of December. Which meant I had an elevated tax liability because it all counted as 2018 income.

Mention of 2018 in the subject heading was a typo. Should have been 2019.

Thread regarding Cisco Systems Inc. layoffs

If laid off late 2019, is severance paid out in 2018 or early 2020?

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