Has anyone ever heard of negotiating a better LR package than the standard? How did they do it?
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I am an ex CSCO employee now, but in my 20+ years tenure I have done in total 3 layoffs, the recent one was last year. I left voluntarily because I couldn't handle doing layoff 3 times impacting a total of 30 people. My experience sitting on the other side of the table was that there was no "negotiation". Its either take it or leave it. If the employee ask for something else, your reply will be to ask him/her to appeal to the HR. The HR will take it from there and the mgr will be off the hook from that point on.
Another fine lesson in life.
A company is very happy to take a small amount of pain to prove to you that they can.
I actually saw this very early in career, where a top notch employee made threats, and eventually an executive (pre-Cisco) took him aside and said: “you may think that we cannot do without you. It may cause somebody some short term pain, that’s true. But we’ll get over it quite quickly. So, in fact, we’re happy to let you go, just to prove to you that we can”.
I know of a few cases where the initial package was increased marginally. Some were due to the employee being just weeks away from another year of service, which would have increased severance. An appeal was required and the decision was made in the employee favor (to round up the years of service). The other cases involved suspension of RSU vesting due to joining an alpha group. Again an appeal was required and some compensation was granted to compensate for the loss. None of this was a "negotiation". It was an appeal. The company evaluated and decided (fairly, I will add). You don't have any leverage for negotiation. If you think you do, go for it but you are only hurting yourself, IMO. Unless you fall into some special corner case, take the package and go to greener pastures.
Do not pass Go, do not collect $200.
To be clear, they do not have a one size fits all package.
I can assure you at some level (VP? perhaps) it's a lot better. Since they are so heavily incentivized by RSUs, I'd expect they may get a special vest cycle.
I asked for a severance package when I was hired, and was told (In a very shocked tone) that Cisco never negotiates this. I pointed out that given Cisco's layoff strategies I expected to only have the job for a year, and the response was basically that I must not be a very good employee. I laughed out loud at that, which embarrassed the recruiter very much. And, yes, one year later the entire division was laid off. Surprise, surprise. I'm back at Cisco, but as a contractor - I would not take a job with the company again.
If you'd researched the company enough to know that severances are often enough to get you within a year, you should have known that they have a "one-size-fits-all" severance package. You got a great deal for only 1 yrs work. Many companies start at 2-4 weeks and add a week per yr of employment.
With the attitude of not coming back again, why did you come back as a contractor? Seems stupid to me. I'd love to get hired again just so I know I can get another 6 mo's salary when I leave.
There was a legend in RTP of someone negotiating to get the final Glass Ball in the 3 Service Ball commemorative set.
Why? If my total time (red plus blue) was included, I'd be eligible for a second ball and close to the third, but I just have the stand and one ball. Pointless object that I'll leave behind when I leave next.
There was a legend in RTP of someone negotiating to get the final Glass Ball in the 3 Service Ball commemorative set.
What I wish I had done when LRed is try to get accelerated vesting of RSUs. I must of had 5,000 plus RSUs which went into the ether.
I asked for a severance package when I was hired, and was told (In a very shocked tone) that Cisco never negotiates this. I pointed out that given Cisco's layoff strategies I expected to only have the job for a year, and the response was basically that I must not be a very good employee. I laughed out loud at that, which embarrassed the recruiter very much. And, yes, one year later the entire division was laid off. Surprise, surprise. I'm back at Cisco, but as a contractor - I would not take a job with the company again.
Yes, once, under an unusual set of circumstances.
Ordinarily, no.
Cisco has a standard package (which seems to get marginally worse over time) and that’s it.
RSUs is a particular bugbear. They are awarded, generally, for good prior performance. They vest over time as a form of handcuffs to stop you leaving. They should really let you have them if you are LRed at Cisco’s request. Other companies do it but not Cisco.
Not individually, no.
If you got a Works Council, they can negotiate on behalf of the team.
When it hit our team in EMEAR last year, the Works Council was able to significantly increase the overall budget (and therefore, payout to individuals).
RSUs are generally a hard no. There's too much involvement of other entities, so that they don't touch that. Severance pay is handled by the local country and regulations, so you have more options there.
Got no works council? Found one. Unionize.
Not that I know of. In the previous EMEAR LR round, a few of us tried the get a small quantity of RSU’s vested early given there was only 4 weeks between vesting date and departure day...and answer was “no”
I know somebody who attempted it, but was unsuccessful. After my layoff I attended a webex meeting with 100+ attendees where they used the same specific $ amounts for all of us. So it seems that a standard package is given.