Thread regarding Cisco Systems Inc. layoffs

@chh+1r6MMQpK, you can sign early to get the "severance" package, but you end up forfeiting the WARN pay.

From the OP's post, it's unclear if the total separation package (in the US) for non-sales is 4 months, or if the "severance" package is 4 months plus the WARN.

I think @mah+1r6MMQpK post is accurate. You'll be paid your regular paycheck and all your current deductions & 401(k) contributions will be kept the same during this period until whatever day is listed as your termination date. Let's assume that it's 3/15 (a Friday). You'd get paid a "lump sum" for your calculated wages between 3/16 and 4/15 (30 days). This amount is considered the "pay in lieu of notice". If you sign now, you forfeit the pay between when you sign and 3/16 and you get paid up to the day you sign, the 30 days for 3/16 - 4/15, and then get the severance package if you sign agreeing not to sue.

Why give up money? It's not like you'll be working (for Cisco) during that time.

Take mine!
2nd thought, nope!

Post from TheLayoff.com

Yes you can take mine!
Second thought, nope!

"Years of Service Recognition Payment (10+ years)" -- is this applicable only for folks being with cisco for more than 10years? I suppose the criteria was minimum 5yrs ;)

Can I take the 4 months package earlier or should I complete the 2 months notice/warn?
Thanks

I think, in US, especially in California, it is 2 months(WARN & till 4/15 last day) + 4 months. Any remaining FY24Q3 RSU is likely to be given as well. Not sure about any FY24Q4 RSUs. 25% mid-year bonus advance will be included for G12 and below. Pretty similar to what was in last two times.

"If this is correct then that doesn’t align to the average of $200K that’s been set aside for each individual effected."

The assumption that 5% is the total LR is wrong, this is the starting point that has already been planned. They have allocated enough money to reduce by 10%, for future plans.

"The company is still deciding on the total number of employees to be affected by the layoffs"

No early retirement??? When is Cisco going to start treating people right again? I remember when Chambers said he hoped we'd all retire from Cisco. Now it is impossible. Long gone are the retirement parties.

Severance package is country dependant, assuming this is for the US

How many additional weeks do you get for "Years of Service Recognition Payment (10+ years)"?

If this is correct then that doesn’t align to the average of $200K that’s been set aside for each individual effected.

It’s a f—king lay off website. Where else do you discuss severance packages?

You should NOT be leaking these info here. will report this post

Shiii...Can I volunteer for a LR?