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One was the grounds under which I would receive severance... She was fired from a startup and received a severance? Does that ever happen these days?
by j_baker 15y ago
One was the grounds under which I would receive severance...
She was fired from a startup and received a severance? Does that ever happen these days?
- severance_temp 15y agoYes, this happens. I'm speaking anonymously here, so take my word for it if you care to, but I know of 2 specific instances in 2 YC companies where employees received 2-3 months severance. There is another recent case (non-yc company) where severance took the form of high single digit vested equity for a not-gelling founder. Particularly with founder or near-founder departures, fair severance can be used to keep a company legally covered down the road. Consider if Cameron and Tyler Winklevoss had just been paid back in the day.
- redthrowaway 15y agoThe Winklevi were never involved with facebook, though. You could say that of Saverin, but not them.
- also_fired 15y agoYes, you get a severance when the company fires you for no really good reason and they just want you to not sue them. It actually happens MOST of the time in professional contexts. "Severance" is usually no big deal, it's like 1-3 months worth of paychecks.