Cisco Layoffs 2024 Severance Package. If the size of the rif is at that level then this had to have a lot of prior planning to coordinate with global hr to review and prepare each severance package. The 4 months of severance, the grossed up cobra payments, and additional weeks of severance based on years of service are all dependent upon you signing the agreement not to sue, which is cisco's way of bribing you by being pretty generous w/ the package.
Cisco confirms layoffs and $1 billion in restructure spending as ai, genai heat up. In november 2022, cisco announced during an earnings call a restructuring that impacted roughly 5% of its workforce which lead to $600 million in severance and other charges.