wondering what package LRed people are getting
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The offer seems very generous which is quite nice of Cisco. I recently left via CEP and it is similar to that offer and that is consistent with what folks were hearing but I'm surprised. It seems the difference in offer is 3 months + 3 months Cobra. The reference some poster has to 80% is for a reduced hours initiative that has nothing to do with CEP but was an "option" folks could elect to take. Phase 1 was CEP, Phase 2 was reduced hours, Phase 3 was LR.
the ER was 9 months, but only at 80%, so it was essentially 7 months.
Huh? Can’t you read? ER had nothing to do with 80% work.
Wow, sounds like a nice LR package, Cisco is generous and the most employee friendly I have seen
Is the 6 months dependeing on years of service. there coule be people LRed with different years of service/different grades for every yeay over 10, so people get an additional week also?
our team director got LR and her package may be more, i think
is it 6 month full pay, or at 80%? the ER was 9 months, but only at 80%, so it was essentially 7 months
It’s 6 months full pay
@cpw+17jwqILk what is ER package is it 9 month pay/medical
I was offered the ER Package and was hit with the LR today. The package today was identical of the ER.
Does the 6 months package kick in from today Oct 07 or from exit day (Oct 22/Nov22) ?
is it 6 month full pay, or at 80%? the ER was 9 months, but only at 80%, so it was essentially 7 months.
It’s quite generous: 6 months base salary ( and +1 week additional per year from 10-19 or +2 week additional per year from 20th year on) , 4 months career support services from Randstad RiseSmart, 6 months COBRA premiums as a lump sum, and RSU acceleration for shares scheduled to vest up to 5 months out. Thank you Cisco, can’t complain!
Just got my offer about an hour ago, same as everyone else. They give you options. You can take a package, you can take a12 month leave with no pay and look while they continue benefits, then if you don't find a job, they give you 2 months pay. Or you can opt out of the package and IF you are impacted, you will pretty much nothing.
@nzy+17jwqILk Nope, just had the 1:1 with my manager and the email came shortly after. No previous offerings or anything
"Just signed my package. It's 6 months pay + medical for COBRA, and additional payout per years experience (every 10 years). Very similar to the ER package."
Were you offered CEP earlier?
Just signed my package. It's 6 months pay + medical for COBRA, and additional payout per years experience (every 10 years). Very similar to the ER package.
What I've heard (here) is 6 months. When you add in the 2-ish months from the ER departure to the LR departure its just 1 month short of the ER package. No news on any extra for years of service. But all things considered its a decent package, better than prior LRs. If you've got a full PTO bank you're covered more or less til end of June 2021.
package is pretty good I heard, far less than the retirement package offered earlier