Has anyone successfully negotiated any aspects of a separation package with Cisco before?
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I’m told that RSU acceleration means that all RSU that were to become due up to 3 months after your end date will be allowed to vest as you leave. That date will depend on your location and contract.
RSU's? Rats of Size Unusual?
Employee stock services told me that all RSUs- regardless of class/ why they were given- are being accelerated to Nov 10 vest for those impacted in the LR. You should confirm this.
@2sco+1nGshPP9 and others- can you elaborate on the process for accelerating RSUs. Are you saying only certain RSUs will be accelarated? What are the "award class" codes on these?
There is no negotiation with Cisco HR outside of a courtroom! HR holds a firm line, and it works. They know 99.9% of the people will give in and sign the agreement as they can't take the risk. Of the .1% left, half of those Cisco will win by Cisco saying they followed the policy and broke no laws, so only 0.05% Cisco pays out extra and then you have to agree to keep it hush/hush. This works in Cisco's advantage so why would they do anything else? It is all about the money, not being ethical. As far as RSUs, Cisco doesn't pay out on hundreds of millions each year!!!! Layoffs are designed to avoid paying out on the RSUs. It is part of Cisco's leadership strategy they don't talk about. The proof is that layoffs will continue as long as CR is in charge.
To the person asking about negotiating unvested RSUs, that’s going to be a no. What you probably haven’t picked up on is that you were let go in large part because you have a lot of unvested RSUs. So they aren’t then going to accelerate them when that is part of the reason you are being let go.
It’s a dirty game. And I know it hurts. I had a lot of unvested RSUs when I was impacted.
I was hoping to negotiate perhaps with regard to RSU vesting.
I wish you the best of luck, but Cisco has zero incentive to allow them to vest. The RSU's were given to you as a way to keep you around for a while longer at no cost to Cisco with a plan to LR you before they vest, or at least the majority of them anyway.
If Cisco had given you a promotion or pay raise, then that would have increased their costs and you could leave or stay at your discretion. But, by offering you RSUs, it costs them nothing and keeps you there until they vest. Then they can cut you before they vest and your departure is at Cisco's discretion and not yours.
I was hoping to negotiate perhaps with regard to RSU vesting. I have a huge pot of performance-based unvested RSUs, but the accelerated vesting does not apply to performance equity awards, only those made as part of regular compensation (ridiculous!!). So on November 10, I'll have a few shares vest, but am leaving hundreds more scheduled to vest on that date that won't.
I have but only in a very small way. For tax reasons I was able propose a later end date by giving back my vacation days. What I mean is, I still did not work those days but my final day was moved out into a new tax year so the severance made more sense. This was a few years ago so maybe not specific to this latest event.
I don't think you can fight or win against Cisco's Legal Team. If you don't agree to the Ts & Cs of the package and refuse to sign it, you won't get the payout.
What exactly do you plan on negotiating for?
This is a serious question to the OP, I want to know what exactly you feel you're entitled to.
The only person I knew to successfully negotiate was a college hire because they never had a role or responsibilities. Cisco's university program is a mess and when layoffs impact people that never had roles it makes a legal nightmare.