Thread regarding Cisco Systems Inc. layoffs

Severance package?

They had stated 6 months of pay and benefits from the day notified. That bonuses for the 2nd half would be paid and ESPP shares for the 2H'22 would be purchased.

They also said RSU stock would be accelerated. Is that the case and if so how much acceleration? All unvested stock grants, even up to 4 years out, or just for a year?

I also wonder about Signing Bonuses if you have not been there one year. Do they claw some back?

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Post ID: @OP+1kbrAUg7

5 replies (most recent on top)

I've worked in several companies that would vest all outstanding options and RSUs on layoff. It's no uncommon and reduces a lot of legal hassles.

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Post ID: @jyi+1kbrAUg7

"Not vesting all RSUs is theft."

Honestly one of the most ridiculous things I've heard for a while.

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Post ID: @rbv+1kbrAUg7

Not vesting all RSUs is theft.

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Post ID: @hdx+1kbrAUg7
  1. 2% pro-rated over a years vesting. Other three years are exempt.
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Post ID: @oil+1kbrAUg7

I heard the 6 month thing, but who said the rest? Seems unlikely.

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Post ID: @umf+1kbrAUg7

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