Whoo-hoo! My checks - one for severance and one for medical - hit my bank account.
Thanks Cisco!!!
A Happy Retired Guy.....
11 replies (most recent on top)
Have a cold beer and chillax !!
I cried when I got laid off from Cisco after many many moons.
But in the end, it worked out much better for me afterwards.
i wish you all the same.
Look at your last paycheck for ESPP...I think it was included with the PTO payout.
OP, you're a a$$hole. I'm glad you're gone. You can't even read.
You referred to my friend twice. I said a previous co-worker quit. HIS boss was the one who was a college hire, not my previous co-worker.
No one expects to 'retire' at 45. But after 20 yrs with a company, they have a right to expect better treatment than someone who has a minimum of 7 years with the company. All the people who were aged 55 or over and had 7 years of service were eligible for the ER.
I said nothing about getting rich. YOUR original comment was ALL about the money.
That college hire is now in their mid to late 40's. It's not noticeably easier for people over 45 than it is for people over 50 to find jobs, especially in this economy/pandemic. So yeah, he could probably use the extra severance to help tide him over until the next job. And parents in their mid 40's have kids entering college and have to help with tuition, where as people closer to actual retirement, their kids are out of college by now.
No one's crying. I just said quit being a braggart. You're the one who got all defensive, making my point. When I was LR'd in '11, there was another guy who was a college hire ineligible for the ER package, not that he wanted to leave Cisco, who was LR'd along with me. He was upset that his manager who'd been with the company the bare minimum to get that (much better) ER package was able to leave with a package twice as good as his. Back then, Cisco didn't add extra weeks/yr for people over 10 yrs or two weeks/yr for over 20 years.
Enjoy your cash. Good to know how you care about the "Cisco family" compared to yourself.
Glad I opted for the ER.
While Cisco tries to get rid of folks age 50 and older, many other companies are looking exactly for those experienced folks.
I was lucky enough and coincidentally, right on Oct 5th I got an offer with a start date of Nov 1st.
Thanks Cisco for the year end ER Bonus ;-)
OP here -
Yes I did “sod off” - f—ing prat.
Regarding the person calling me a braggart- your friend with 20 years hired as a new college hire - who the hell expects to ‘retire’ at 45 working in the private sector? Should have gotten a government job.
The ER / CEP was for people who were actually close to retiring who would probably have a challenge finding a comparable job at a similar salary. It was not intended to make a younger person rich.
Too bad for your friend, but it’s the exact same situation I had when at IBM 25 years ago. They were giving people buyouts to reduce headcount. I wanted the buyout but was not approved because I had a BS and MS engineering degree. Fair? Yes because I wasn’t in the group they wanted to get rid of.
Your friend has 20 or more years of a career - s— it up and quit being such a crybaby.
Double your money and buy the stock of every cloud company replacing Cisco installed base of customers with products that customers actually want to buy
Sod off and get lost.
I'm happy for you, but no one likes a braggart.
One of my co-workers who moved to a new team as a promotion about a year ago decided to quit and gave his notice this past Monday. His boss could have cared less as he had just received his at-risk LR notice. This is a guy who's been w/ Cisco over 20 years, closer to 25, but since he was a college grad hire, he was under age 50 and therefore ineligible for the ER/CEP package.
I'm sure he'd have a few choice words to say if he read your post.
You should have gotten a paycheck around 10/5 - look there for pto, last paycheck, and espp payout.
Go to adp if you need to.
The lump sum just arrived in my bank today as well.
Should be a line item on the check issued on 10/5.
Look at the After Tax Deductions on the right side summary section of the check document. On the Jul - Dec line you should see a (-) entry that was added into the total amount of the check issued (no taxes deducted since ESPP is an after tax deduction).
Hope this helps.....
I'm not seeing how or where my ESPP accumulated since July was paid out or back. ??? Can anyone clarify?