is it effective immediately? Or you get 2 months? 3-4 months severance?
If you could share your BU and location
Is it worth getting a lawyer?
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@ef if you dont know, doesnt mean its not happening.
I took the package and went to a competitor in 2 weeks. Still got the 60 days plus full severance, PTO, etc. Just lay low those 60 days, and don't brag if you have a new job already.
They hold the severance until after the period, to try and keep you there in the shadows as long as possible. They don't want you immediately going to competitors until after the noise of the layoff has died down. When I got LR'd, the money I could make going to a competitor dwarfed the package, so I declined and went and made my money elsewhere - taking out Cisco :)
@am no need, because Cisco has not laid off anyone on California this month, many fake post here.
Since it is 60 days of doing nothing + 4 months, that's really 6 months. I got the package in 2023 after 25 years, so it worked out well for me. Even got about 240 hours of PTO payout at that time, which unfortunately the LRs today will not receive.
@am you will receive just 2 weeks pay.
4 months of severance??
That mean they don’t need to execute the warn notice until October/November at that point.
Webex
60 days notice.
Severance - 4 months plus 1 week for each year of service from 10-19 and 2 weeks for year 20 and above.
COBRA - 4 months.
Accelerated vesting.
Lawyer won't do anything unless if there are some serious cases: harassment, discrimination, etc.
Weird how all these people are affected and no one is sharing the package details.
Pretty sure the severance takes effect AFTER your last day... probably October 13th.
@a2 what you are talking is old days not current.
You typically get 60 days notice. During this time you are still an employee but you are locked out and really cannot do work even if you want to.
Note, if you leave for a job during this time and do not wait for your actual layoff day, the money stops and you do not get severance.
Separately, there is severance. In past it was 4 months plus 1 week for each year of service from 10-19 and 2 weeks for year 20 and above. That could change for this LR.
There should be a number of months of paid cobra. In past this was three months. I forget if it is grossed up.
Also, important is your last day to vest stock. There is some accelerated vesting based on age and years of service. In some cases the value of lost stock can exceed your severence pay and you wind up behind.
Immediately effective, severance? It is ZERO. BU and Location? I am your manager, that's it. Lawyer? You can try your ZERO luck.