If you are here more than 5 years, or between 3 to 5 years, or 1-3 years, or 1 year or less?
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Base LR package is same for everyone - 6 month salary + 6 month medical + PTO balance cashout.
Then 1 wk salary is added for each completed year of service starting from 10th year.
Starting from 20th year of service, 2wks of salary is added for each completed year of service.
I am on the list and have completed 19 years of service. So my package includes 10 wks of salary. If I had completed 20 years (which is a few months from now), that would have been another 2 weeks of pay.
I would say this is one of the most generous LR packages Cisco has ever given, specially because the actual lay-off happens 6 weeks from the time people are notified. All the earlier LRs, AFAIK, took effect immediately. So in effect Cisco is giving another 6 weeks of pay + benefits on top of the LR package. I am quite happy with it.
I'm impacted by LR and I'm 5months less than 10yrs unfortunately, however, worked as red-batch/contract for years prior to that, will that be considered.
No, all "red badge" or contractor time does not count. Only years of actual employee service count.
If you re-hire back into Cisco, for some things, the "clock" resets and starts at the date of your most recent employment start and for some things, your prior employee service counts.
For example, when you re-hire (if you do), your years of service for PTO purposes starts over. For service anniversaries or for Retirement Medical Access Plan (RMAP) eligibility, the combined time of each of your employment periods will count.
If my "red badge" time had counted, I'd have been eligible for the CEP.
Cisco is very generous. My ER package is very good.
My first layoff experience at another company: 1 week severance
Perhaps all the whiners should be more grateful
completed 8 years, last month didn't get a bonus, offering a 6-month salary and 12K medical. I think Cisco may credit unused PTO.
My ER package was 9 months plus 1 week for every year over 10 years service. I was just shy of 20 years there. Loved it most of the time. Great people to work with.
I'm impacted by LR and I'm 5months less than 10yrs unfortunately, however, worked as red-batch/contract for years prior to that, will that be considered.
So 3 months less than ER. And ER was still a kick in the nads compared to 2008.
it is 3 month package
I can only speak to mine, but it was the 6 months thing that everyone else is talking about. You get more if you're here for more than 10 years, but I was not (not quite 8, for me). I suspect it's the same for everyone maybe for legal reasons, but it'd be interesting to see any data on the less than 1 year cases.