Is it 2 months as if working and then 4 months after?
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For US employees it’s 2 months notice to separation and 4 months severance with money for Cobra insurance trued up. You also get an additional week per year of service for years over 10.
This is better than what Chambers was handing out a decade ago.
It’s effectively six months, 2 +4. Because as soon as you’ve been read the script you stop work immediately and get looking for a new role or retire. So it’s effectively 6 months free money. Sounds good if you wanted to retire in any case and that’s why 25% of Cisco is hanging on for this.
Thanks! Jll take it!
They said 2 months of working without responsibility (don't remember the term they used), full benefits, and basic access to internal resources. Then you're laid off with 4 months pay and 4 months cobra premium (probably trued up to cover taxes as well, as they've done the last couple of rounds).
They don't literally pay for COBRA. They give you the money to cover your premium for the coverage you had at termination. If you start a new job with insurance, it's "bonus" money, still yours (except, of course, if you start a new job at Cisco, in which case you don't keep the full package).
Elon would have fired 60% of Cisco overnight… and I bet you the company would be fine… the amount of red tape and slow process we have is huge.
That's not quite what I heard. I should watch the recording. I heard they paid the first 2 months and you had insurance, but I didn't hear they would pay for Cobra for the last 4 months.
For US employees it’s 2 months notice to separation and 4 months severance with money for Cobra insurance trued up. You also get an additional week per year of service for years over 10.
Not good enough? Try your hand with Elon.