Can I take the 4 months package now or should I complete the 2 months notice/warn?
Thanks
3 replies (most recent on top)
As soon as you sign the paperwork agreeing to your termination, you stop being an employee and you stop drawing a regular paycheck. The termination paperwork will spell out how long you're an employee, usually 30 days unless they're doing that look for internal jobs thing they've done in the past, and then you're paid the remainder of the 60 days required as notice as a lump sum between your last day and whatever 60 days is. They've done that calculation and it's usually close to an even 30 day/30 day, but it could be something like 25/35 or 35/25. Whatever the second number of days is, that number is fixed, so if you sign the next day after being given it, you forfeit the remainder of the first number of days and get a lump sum for the second number of days.
Then you have to decide if you want to give up the severance package or sign it to get the remainder of the total separation package.
In my case, it was 36 days as an employee, 24 days "in lieu of notice" and 4 months of severance. Signing early would have give up any where between 1 - 23 days of pay. Since I didn't have any Cisco responsibilities after being notified other than to sign the paperwork at the end, turn in my badge & laptop on the last day, there was no incentive to sign early. I was already having interviews during that 36 days, had an offer within 45 days and started in less than 60 days so that I got to pocket the 4 mo of severance.
I think they meant to take the package now and get employed somewhere else without having to wait for the notice/warn 2 months period.
Guess they need to quit in this case to join another company and forfeit their Severance package
if you don't have to work during the WARN period, ride it out and look for next gig