Thread regarding Cisco Systems Inc. layoffs

In Europe the LR package depends per country. I was at Cisco Italy for 19 years and LR'ed 3 years ago, and my last function was Sales Director (grade 13). They way the LR package was calaculated:

• Average monthly OTE salary of the last 3 years (I had great last 2 years:-)
• Multiply with years in service (18)
• Multiply with 1.5 (>50 years, and their business case to LR me was not right/correct).
• 6 months

Result was a LR package of 410,000 Euro which is about $460,000 (Gross). Needles to say I immediately signed all papers they wanted me to sign. Started at a competitor almost immediately after my 6 weeks vacation, and paid my mortgage off 100%.

Thank you Cisco to make my live much more easier :-)

| How do we calculate the total with the statement "2 weeks extra for every year over 20 years"? I am 22 years in service at Cisco. Thanks

1 week extra for every year over 10 = years 11-20 or 10 extra weeks.
2 weeks extra for every year over 20 = years 21-22 or 4 extra weeks.
10+4 = 14 extra weeks for 22 years of service.

I wasn't impacted this go-round, but if I recall correctly from my LR the over 10 meant year 11. If they've changed it, my math may be off by an extra 2 weeks if they do the math from years 10-19 and 20+. But I took the statement above as literal, since they have to meet the terms as communicated if it goes to arbitration or court.

Wait, is there a difference in what managers get vs. non-managers?

How do we calculate the total with the statement "2 weeks extra for every year over 20 years"? I am 22 years in service at Cisco. Thanks

The main difference I see is in 2018 Nov it was a 30 day notification period until the last official day of employment. It seems non-managers are getting a minimum of 47 days, with managers receiving 60 days.

Sounds like basically the same as the Nov ‘18 package.

You’ll get your bonus as worked through 31 July, but your ipf is at your managers discretion, so don’t expect it to be good. Usually outgoers get low ipfs so those remaining can be made a “little happier” with higher ones.
Unvested RSUs disappear...

What happens to unvested RSUs? Bonus?

Impacted also in RTP...severance package is not bad at all...I've been through it before so no biggie...it seems those that were NOT LR'd were more psychologically impacted learning about the LR

Executives greed

Those notitified in the US today can stay employees through Sept 16. Then they get 3 months of pay (+ 1 week extra for every year over 10 years and 2 weeks extra for every year over 20 years), COBRA for 3-5 monoths depending on how long you've been at Cisco, and 2-4 months of outplacement services. I've enjoyed my time at Cisco but the never-ending LR's make it hard to create a sense of loyalty among team members. They used t be 1x per year, but this one came 9 months after the last one.