Can someone, who knows this topic explain how the LR package is calculated?
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I will say one thing about LR (not just Cisco), all the CEOs have the same goal, to impress the Shareholders and get big paychecks. CEOs don't care about employees, they want big $$$ (you can see from your past, see either Elon Musk or Chuch R)
All CEOs (or Companies) have already made big policies about LR and also hired top quality lawyers (they earn more than a PE or DE).
So, end of the story, if get LR, enjoy the time and get a new job (but learn a lesson from LR from Cisco)
Cheers!
It doesn't matter how a pkg is calculated. You'll get whatever they decide to give you. And, you won't get that unless you sign an agreement not to sue.
Wow, what someone else said is so true: "Once you are LRed, you are nothing, considered a piece of sh*t from Csco mgmnt point of view."
Even peers treat people like they have COVID. Avoid the LRed folks at all cost! Oh, and many are about retirement age, and NOBODY gets a retirement party. It really s**ks!
I’ve also heard of kickers for years of service. No?
@2qaw+1oulaQFE, in recent years, or possibly for a long while, the did add 1 week of severance for years of service 10 or more years, and 2 weeks of severance for years of service 20 or more years.
So, if you have 11 yr of service, then your severance would be the 2 months in lieu of notice, plus 3 months if you sign the agreement not to sue, plus 2 weeks for years 10 and 11. If you have 19 yrs of service, then it 10 weeks for years 10 through 19. For those with more than 20 yrs, you get the above 2 months in lieu of notice, plus 3 months if you sign the agreement not to sue, 10 weeks for years of service 10-19, and then 2 weeks of severance for 20th year of service and every year beyond that.
They usually gross up for taxes the cost of 5 months of COBRA is you sign the agreement as well.
And, while not technically part of the LR severance package, they pay you for all your accrued, but unused PTO hours along with your lump sum severance package. That's why they keep forcing us to all take at least 3-4 days of PTO every December. The last 2 yrs, they suddenly in mid Dec announced that they were extending the year-end shutdown by a couple of days both years because they did the accounting to see how many employees had 150+ hrs of "banked" PTO and decided they needed to have us burn extra PTO.
I’ve also heard of kickers for years of service. No?
2 months of salary + additional 3 months if you sign away your right to sue
5 months is typical Cisco severance package
Key words “payment in lieu”. It’s secret, new math style calculations.
LR email and pdf docs designed to overwhelm you with too much info and legal mumbo jumboos to just give up and get it over with by signing asap. Once you are LRed, you are nothing, considered a piece of sh*t from Csco mgmnt point of view.
if not, you can call HR to ask them to explain to you
If you receive LR package, it has the details
and if not, we have this wonderful website here.
If you receive LR package, it has the details