It's my first time getting laid off, and I'm trying to get to my bearings with everything... vested stocks, separation pay, etc. Any guidance and recommendations would be greatly appreciated. Thank you so much.
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I was laid off, too, and received the same package as above. By my calulcations, the Early Exit gives you a bit more cash in hand - about 2% - even after paying COBRA premiums. Are others finding the same?
Definitely standard exit, unless you've got an offer in hand.
The job market is pretty bad this year. Being laid off definitely cast a doubt on potential employers to say the least. Some companies are still hiring, but get to be a lot pickier than usual, as being overwhelmed by incoming resumes.
Last time there were two "exit" dates you could choose, but the money at the end was the same.
Example) Early exit date gives you 4 months pay. Second exit date is a month later. You still got 4 months pay, BUT the clock starts at the "early exit date". So you get 1 month pay (that you're "working", between early and second exit date), and 3 months at the second exit date.
Why take the second exit, this gives you a month to look for an internal job, get your health stuff figured out, potential vesting, etc. If you know you have another job, or see no value in staying within C$CO for the month, take the early.
@exb+1nFlfYVk Not really. Maybe to people who were LRed now and know the details of the packages but not to most of us
No they’ve been doing this two package deal for at least a year now.
There have never been two packages in the past. That is new, isn't it.
What are the differences?
I was wondering the same thing. I talked to someone who explained that if you won't to try to find another job at Cisco, consider the standard package. You can keep your RSUs and retain the tenure you've gained. But if you get a job someplace else in the meantime and you have taken the standard package, you'll lose your severance package. So if you feel that you'd prefer to go someplace else, take the early package. You'd get paid two weeks extra with the standard package. But it may limit your options. Make sense?
Early exit is better unless you have visa dependencies
- reach out to your network for help or referrals
- start applying to jobs
- save your money & cut costs
- look into health insurance on the marketplace & compare prices (cobra is overpriced)
- never start your own consulting company
- expect lowball offers from recruiters
- if things don't workout obtain a teaching certificate
should be early exit package