Reading this thread as a former Cisco employee, who accepted an LR package and moved on after almost 2 decades at Cisco. I’m dumbfounded at the negative comments regarding the ER package. You all sound like a bunch of entitled babies. Like Cisco “owes” you something. Lol. You were paid a fair wage, for fair work. Nothing more is “owed” to you! Cisco is being very generous in offering anything! I appreciated my package when I left, as I was ready to move on, had confidence in myself, and accepted there was more out there than Cisco. And boy was I right! Appreciate the offer and drop the entitlement attitude! You’ll be happier for it, and stress a lot less!
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We are in a pandemic. That's changes the equation.
Similar not the same.......read the CEP FAQ which is the official statement
Caution to those who think they can decline the ER and if they are caught in the future LR they get the same package.
That said at the Check-In that you could do exactly that.
I wonder what “similar benefits” means?
Note it does not say you get “the same” benefits.
Caution to those who think they can decline the ER and if they are caught in the future LR they get the same package.
...Not to mention (had you read it) the ER package tells you that 1) declining a ER doesn't make you any more or less likely to get a LR and 2) involuntary action will be eligible similar benefits.
But if you're in a BU that had bad numbers, are over 40 or God, forbid 50, then you ARE more likely to get an LR. As to part 2), please note the word similar benefits. Not identical benefits. Looking up the definition of similar, I leave as an exercise for the reader since I think the person who pointed out that the involuntary action will have similar benefits doesn't realize what it means.
Unbelievable – did you even read your ER package? it's a privilege, a choice. You are lucky to have received it. You can say no. Lots of other employees don't get this choice, ever think about that? Not to mention (had you read it) the ER package tells you that 1) declining a ER doesn't make you any more or less likely to get a LR and 2) involuntary action will be eligible similar benefits.
Ok gramps. Nothing to see here. Move along.
A Bird in the Hand is Worth Two in the Bush. If you've been offered this ER package, take it else you will face LR down the road and you wont like the LR package you will get. You will begging to be re-given the ER package you declined a few weeks before.
- S: I don't work in Cisco HR or PR.
Can only see this being viable for 55+ honestly. Rest are not going to consider it.
I took it the lousy package this morning. I am ready to do something new.
options were what smart people got, then RSUs, lazy millenials get the couch in their parents house, guess they make enough to pay for food delivery and game pass, so they dont care about LR or pay raises, obviously making money and leaving their kids with wealth is a boomer thing
So when the author of this thread left, unless he was a financial i*iot, probably had a substantial back stop. Ask someone who started post 2010 and 50+ what they're options are worth?
Answer: What are options?
It ain't like it used to be, and oh did you forget 'Corona"???
Shorting COBRA is insane at the very least. The LR will be bigger than Fran thinks because I have yet to speak to 1 person who taking this, "GTFO Package".
Beg to differ, but this is not an "Early Retirement" package. It's a generous LR package. That's what people are commenting about. If you are close to retirement age (as I am), you look at this package and see the obvious gaps between this and previous offerings. Why short-change COBRA payout? Why steal RSU shares? Why no final 401k bump? These are the things that matter.
These are missing because Cisco is really targeting this as a GTFO package for those between 50 and 55 who need to work another 10 years. Calling is an ER package is insulting to people who actually are eligible to retire. The ELT (present and past) has already set the expectation with previous ER offerings. To those who would use this as an LR package, such as yourself, congrats and nice move. But that isn't everyone. Sad and disloyal move on ELT's part.