At least Cisco is offering decent severance packages, some companies are using the pandemic as an excuse to stiff their employees any way they can, including by reducing and sometime even not offering severance. There's a lot wrong with this company, but at least they did this right.
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they want you to leave and don't bother come back, hope you get the message.
Also if you work only one day in November you get medical covered for the entire month
Not every company does that, so be glad Cisco does.
All the contractors I joined Cisco with a few years back, the vendor ended their employment/benefits at 11:59PM their last day at the client (Cisco). You'd think they'd at least cover them till the end of the week since they withhold benefit premiums for the week out of your weekly paycheck.
Also if you work only one day in November you get medical covered for the entire month
@fks+17jITDTS they dont know what to do with all the money hence buybacks and acquisitions. Expecting them to re-train or shift people around to fund other projects is too tall of an order. Also might be cheaper to just LR and hire the people you want in that situation
But all of you are justifying the layoff process......when, in reality, Cisco doesn't need to layoff folks. With $11b+ cash in the bank, Cisco could weather the storm and reallocate/train employees to divisions that need them. But noooo.....that would mean mgmt would actually have to work, instead of hitting the EASY LR button.
Does the 6 months package start from today Oct 07 or from exit day (Oct 22/Nov22) ?
It could be worse. My SO received one month when laid off in April. It was better than nothing, but didn't go far in the middle of a pandemic.
Why would you take Oct 30 date? Even if you had a gig lined up, just take the Nov 22 date and get the pay. Come on people!
@vmy+17jITDTS they call the Oct 30 date the "Early Out" date. It's for those who have jobs lined up and don't want to wait until Nov 22. Only thing you miss out on are the pay checks from Oct - Nov.
why offer two dates to leave oct 30 and nov 22. is severence different for both?
True. If the rumored 6month salary+ 6months COBRA paid is to be believed, it is good indeed.
Thats a good safety net for folks LRed. Much respect for Cisco for the layoff package.
Just signed my package (US). They are offering 6 months severance + COBRA (medical). You get the choice to leave on Oct 30 or Nov 22 - I picked the 30th as I already have a gig lined up
You are correct. I believe many companies have used the pandemic and the extra unemployment not to pay severance.
what is the package. it is still not clear if you take optional voluntary package. how many months/ pay + medical