This package is the equivalent of a single wide trailer
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dont forget bragging rights of being a retired fat cat
Even though the ER is voluntary, eligible employees who choose not to participate may face downsizing eventually, according to one source within Cisco who requested anonymity.
“Last time they offered the Early Retirement package in 2009, it was heavily rumored that if it was offered and you didn't take it then you would be terminated anyway,” the source said.
@csi+16vVQvFV and @1cfa+16vVQvFV
2011 ER - do not know details, , but friends said it was like 2 years pay all together. Pay, Health Benefits, 401K, RSU. at least 1 yr full salary
now it is 9 months at 80% income, which is about 7 months....
Not good at all.... LR you will get 3 months or join the class action lawsuit against :)
Here you go.
https://www.networkworld.com/article/2202612/cisco-offers-early-retirement-to-certain-employees.html
I qualified for ER, with no exceptions, but never got the email. What does that mean? Assumed it was 100% of those who qualified.
What was the 2011 payout? Those saying this one is less well tell us why!
It sounds like the ER is about 60% of the total 2011 value.
Indeed might be better to roll the dice, take a pass, wait for weathering the LR, and by then hopefully economy recovering. Plus if LR you can file unemployement.
2020 had turned out to be a great year. Hang in there.
The ER sounds dysfunctional.
Does any one know if the ER packages are all out now to the employees?
HR babe here, we are sending out those ER emails one by one.
HR babe - How are those who may be on military/medical/personal leave being contacted?
horrible package designed to motivate hanger-ons to look for jobs before massive October surprise
Declined
Those who were LRd in Feb or March got great packages all things considered
Wow, if this is the ER package then the LR package will be much worser -:(
Just received it in San Jose.
package is
9 mos salary v 1 year plus bonus in 2011
- a bit more if > 10 years ... $/ year added
9 mos health/cobra v 2 years
6 career services
HR babe here, we are sending out those ER emails one by one. We have a list of emails of people to be notified. We are doing a copy 'n paste. It will all be done by 3pm PST. If you have not received an ER email by 4pm PST today, you are not on the ER list. I don't know the total number of folks to be notified (top secret), but we are a bunch of HR girls and a few dudes doing this "sendoff".
Cisco Kid – where are you located?
I've heard that Fran has to type and email each one of them herself...please give it some time.
Total cash compensation before getting taxed at the maximum? I think they Cisco is targeting a very few with trinket offerings while their intent is to steer as many people possible towards the 20% reduction. Lots of fearful people out there, it's a great motivator to negotiate.
Thanks Cisco Kid - looks like they are staggering the emails over the morning.
I just got my ER email. The tone of the email and the transition website was, in my opinion, respectful and considerate. The total cash compensation is over $135,000. I don't think any sane person would call that a trashy offer,
Looks closer to the LR package vs. an ER package.
As of 9:19 PST, no email yet.
Have all the emails gone out - even on the West Coast USA do we know?
As companies start going under the packages get smaller, and smaller and then there was none. As people from Nortel, Lucent ...
What is in ER package? Details plz
disappointing it seems
they literally are trying hard to keep people .... disgruntled
lol