Hypothetically If I accept the LR package on Oct 7 then get a job shortly after, how long do I have to continue to work at Cisco before getting the payout?
4 replies (most recent on top)
So the billion in cuts for Q2 aren’t even part of this since it will happen in q3.
"Nov. 23 - Phase 1 Last day for choice exit or leave start". I think choice exit can start right after the Oct. 7 notification as it states "You can choose to take a package immediately with enhanced pay and benefits package".
The slides from the Check-In that gave all the info we have so far said:
- Oct 7: Phase 1 pre-notification - your position is at risk and you have to decide between
1) Taking the optional workforce transition offer
2) Taking a leave of absence
3) Staying in place and looking for a new role internally or externally
- Oct 22: Deadline to pick your option
- Nov 23: Phase 1 employee status ends for those who took option 1 or leave starts for those that took option 2
- Dec 2: Phase 2 notification date - You are being terminated
- Jan 4: Phase 2 employee status ends
You get the payout within a few days of your final date of employment.
For the optional choice plan, your manager may not have started planning on who is taking on your work, so you may have to work long enough to hand off your duties and possibly train your co-workers on any special tasks you did, so start documenting it now. But, it's also possible that they'll just tell you that you can keep your laptop for the 30 days you're still an employee, but don't expect you to do anything like they do when you're suddenly LR'd.
But, everyone I know who took the ER or CEP package, they are still working until Oct 5 to make an orderly transition of their duties. Depending on how much that is, they may be able to dual work two jobs remotely or they may not.
It will be interesting to see if those in the Phase 1 optional severance and the later Phase 2 involuntary severance if they're allowed to keep their laptops for the 30 days they still remain employees. While you can certainly look for a job internally with those 30 days, you're not likely to find one, and you're more likely to be copying proprietary info within that 30 days.
you have time till oct 22 to decide what options to take. if you choose suboption 1, you can leave soon thereafter