Some useful tips when signing the layoff package

Whatever you do, DO NOT SIGN the paper until the last day. Once you sign it, I believe they stop paying you for that month. So sign it the last day in order to get some extra $$$. I think you effectively lose your insurance as well if you sign it early. But i dont remember the exact detail. If you sign it on the last day ( i hope the beginning of the next month), they give you insurance for that month. Atleast this was what it was in Texas.

When you sign it, you will get your severence. I believe it is like 14 days or something to process it. I dont remember the exact detail.

And Good luck on your next adventure!!! Life is awesome on the other side. I was able to find a job within 2 month. Basically my severence was the bonus!!!

Although this isn’t confirmed information, and the OP( @VF9OWHc-7rma ) is clearly speaking more from his personal experience, this is definitely something to look into when signing the layoff package with 30 days to find a new job.

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You want your last day to be early in a month so you get full insurance coverage for that period. Signing and returning the document early takes away that advantage, as it impacts your last employment date. So for an early January departure date, make sure you sign and date for Jan.1 or later. You get January insurance without having to pay out of pocket.

Your payout is not affected by signing early, but your insurance coverage is. You won't get paid less for signing early.

I am close enough to the process to know.

Negotiate to have last day into the following month, if it is suggested to be towards the end of the month. Your healthcare remains in place for the full month you leave, even if your last day is the first of the month.

The impacted employee will be given 2 weeks to 2 months notice period based on the local country HR policies to look out internally or resign from the current position, like others mentioned here..it would be wise for the employee to resign on the last day of the notice period to maximise the pay, contribution to the retiral benefits & insurance.

Whether you are in the target list or not, it is highly advised to :

Keep your skillset upto date(not in comparison with your Cisco colleagues but the outside world)

Update your resume every 3 ~ 6 months, probably you will also figure out whether you are learning

Back up all the information that you might need

Plan B & C to bank upon incase you are impacted including an emergency fund to manage your overall expenses for 6 ~ 12 months

Above all, believe in karma coz what goes around will come around

What was the 2017 package?

I do remember when I was laid off in May 2017 that the package did indeed have some very specific instructions and dates for completing everything, just pay close attention to those. I printed all my stuff out and got the highlighter and sticky notes to make sure I kept it straight

How about your medical and life insurance?

This is SO not true. I got laid off last year. Signed the paper two days later and got full pay and benefits. Please stop lying to people. Only thing that s---s is you have to mail the form in and can't drop it off to hr

Correct, sign on the last day to get maximum benefit. HR statement is not clear what benefit you will not receive if signed ASAP.

Thread regarding Cisco Systems Inc. layoffs

Some useful tips when signing the layoff package

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