I started this thread and will now try to end it because I am fed up with the fake news being pumped down eveyone's throat. I emailed my former next door neighbour who was one of the lucky/unlucky ones to be let go last summer in the 600 culling. Now, happily enjoying a new carrer his severance from CX after 17 years was HKD2.28M plus immediate retired status staff travel. And yes tax free.
So, the 390K cap is a myth, always was.