4 ms·

16 weeks of base pay + 6 months of health insurance and everything else, looks like a decent severance package at least. This seems better handled than Twitter'

by yashg 4y ago

16 weeks of base pay + 6 months of health insurance and everything else, looks like a decent severance package at least. This seems better handled than Twitter's layoffs.

kadomony 4y ago
Musk only authorized 3 months' severance to substantiate the 90 days needed to prevent being sued into oblivion. The man is going to do the bare minimum for his employees to recoup his loss in making the acquisition.
- FraaJad 4y ago
  The bare minimum would be 60 days severance to stave off California's WARN act, isn't it?
  - kadomony 4y ago
    No, I believe that it's 90. At least, that's what the class action lawsuit argued.
nsenifty 4y ago
+2 weeks base pay for every year of service with no cap.
- blsapologist42 4y ago
  Yup. One person I know is getting around 10 months of severance(!). Actually seems like a sweet deal.
consumer451 4y ago
That is really generous. But man, I'm sitting here really hoping my sibling who works at Meta is not getting axed. He took the job because of the money, after our parents had to declare a medical bankruptcy. The increase in salary allowed him to pay for their housing which they cannot afford on SS benefits. Even under those circumstances he still would not take the job until he got my super-anti-Zuck butt on-board with the idea. I hope people realize that reasons for working at Meta may be more complicated than it might seem on the surface. </rant> UPDATE: he still has a job, whew
- yashg 4y ago
  Of course layoffs are never pleasant and I hope and wish no one ever has to face them. But in the capitalist world we live in, they are inevitable. I am glad your brother has his job. Another sad thing about the uber capitalist society that US is, are the medical bankruptcies. In a developed country like the US, people shouldn't go bankrupt trying to avail healthcare. But that's a completely different discussion and let's not go there.
ggregoire 4y ago
I've read several times in those comments that this is a "decent" severance package. I'm not that familiar with the US legalities and practices, what's considered a "good" and "very good" severance package over there, if 16 weeks of base pay + 6 months of health insurance (for the employees and their families btw) is only "decent"? Is it common to get way better? From abroad we think that the severance packages in the US are at the will of the employers and so are usually very bad.

by yashg 4y ago

16 weeks of base pay + 6 months of health insurance and everything else, looks like a decent severance package at least. This seems better handled than Twitter's layoffs.

kadomony 4y ago

Musk only authorized 3 months' severance to substantiate the 90 days needed to prevent being sued into oblivion. The man is going to do the bare minimum for his employees to recoup his loss in making the acquisition.

FraaJad 4y ago
The bare minimum would be 60 days severance to stave off California's WARN act, isn't it?
- kadomony 4y ago
  No, I believe that it's 90. At least, that's what the class action lawsuit argued.

nsenifty 4y ago

+2 weeks base pay for every year of service with no cap.

blsapologist42 4y ago
Yup. One person I know is getting around 10 months of severance(!). Actually seems like a sweet deal.

consumer451 4y ago

That is really generous. But man, I'm sitting here really hoping my sibling who works at Meta is not getting axed. He took the job because of the money, after our parents had to declare a medical bankruptcy. The increase in salary allowed him to pay for their housing which they cannot afford on SS benefits. Even under those circumstances he still would not take the job until he got my super-anti-Zuck butt on-board with the idea. I hope people realize that reasons for working at Meta may be more complicated than it might seem on the surface. </rant> UPDATE: he still has a job, whew

yashg 4y ago
Of course layoffs are never pleasant and I hope and wish no one ever has to face them. But in the capitalist world we live in, they are inevitable. I am glad your brother has his job. Another sad thing about the uber capitalist society that US is, are the medical bankruptcies. In a developed country like the US, people shouldn't go bankrupt trying to avail healthcare. But that's a completely different discussion and let's not go there.

ggregoire 4y ago

I've read several times in those comments that this is a "decent" severance package. I'm not that familiar with the US legalities and practices, what's considered a "good" and "very good" severance package over there, if 16 weeks of base pay + 6 months of health insurance (for the employees and their families btw) is only "decent"? Is it common to get way better? From abroad we think that the severance packages in the US are at the will of the employers and so are usually very bad.