Thread regarding Cisco Systems Inc. layoffs

The over 50 "retirement" package years ago was paydirt. Doubt that will ever occur again. Thanks Chuck!

I took it, have neighbor hired in same year (late 90s). He is still around and miserable he says when old walking the dogs.

I took my Cisco parting gift at 53 and smiled and parted ways. Sold everything, downsized, and work part time to keep from getting too lazy.

Fortunate. Blessed.

Take Care of Yourselves. Cisco can be some tough mileage.

I have 16 years, and started when I was 46.
ER was only offered in 5 countries.

What sucks is they are basically saying we'll pay you a few months of pay to keep your mouth shut (especially those over 40).

Where is this incentive for those over 40 to keep their mouth shut? They get the same package as those 39 & under. The only incentive to keep your mouth shut is for those who have a decade+ of service since they get an extra week of severance for every year of service over 10 and 2 extra weeks of severance for every year of service over 20.

I'm sure there's more people over 40 getting LR'd that have less than 10 yrs of service who aren't getting any of that extra severance than there are people over 40 getting LR'd that have over 10 yrs. Not every 40+ person started at Cisco in their early 30's. & stayed. It's just that every person with 10, 15 or 20 yrs of service started in their mid 20's or early 30's.

Early retirement and/or voluntary redundancy were not offered in most countries on the last LR round. They are not being offered at all this round.

I've said it a million times on here and I'll say it again. Getting laid off at the height of covid was the biggest financial windfall I'll ever receive in my life. Especially because I was able to find a new job right away and pocket the entire bag. Bam, target retirement date moved up a few years!

It was really telling that a lot of my colleagues outright refused the early retirement package when it was offered. A lot of Cisco employees are clearly gluttons for punishment or possibly have masochistic tendencies. Either way, my observation was that the people who complain the loudest are the same ones that hold on for dear life when their necks are on the line. Sad.

What does the package look like?