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> The packages for departing employees will include the equivalent of their full base pay through the end of 2026. Healthcare coverage is different across the g
by ggoo 5mo ago
> The packages for departing employees will include the equivalent of their full base pay through the end of 2026. Healthcare coverage is different across the globe, and if you’re in the United States, we’ll continue to provide support through the end of the year. We are also vesting equity for departing team members through August 15th, so they receive stock beyond their departure date. And, if departing team members haven’t hit their one-year cliffs, we are going to waive those and vest their pro-rated equity through August as well.
The announcement reads as pretty heartless to me, but this is a very, very nice departure package
- doggo_mate 5mo agoIn Europe they’re pretty much obligated to provide this package
- everfrustrated 5mo agoComplete fiction. Over covid it was common in big tech layoffs to get much less severance in Europe than US.
- flumpcakes 5mo agoDefinitely not true in the UK. This is extremely rare for it's generosity. I've never seen anything like this in the UK.
- tick_tock_tick 5mo agoAs a general rule USA Tech is much nicer to their employees both when working and during a layoff then Europe.
- fy20 5mo agoAs always, it depends on the country.
- dd8601fn 5mo agoI would be quite surprised if there is one, but if there is I would like to know.
- ttul 5mo agoThey have a reputation to maintain, otherwise it will be difficult to recruit the best people in future. That being said, damn, that is a very generous package by any measure.
- bluGill 5mo agoFirst packages tend to be the best. If you work for them beware, the next round won't be as good (if there is one). The economy isn't the best, but if you get an okay job offer anyway you should probably take it rather than risk you will be in the next round that is worse.
- alsetmusic 5mo agoTrue. I wasn't surprised when I was let go when my previous company had a first round. I'd clashed with management pretty openly for a while and knew if anyone had to go, I'd painted a target on myself. The people who were let go in rounds two and three were probably caught by surprise.
- mrits 5mo agoMeta did it based on tenure. People that were there for 10 years got about an entire year.
- IG_Semmelweiss 5mo agoMETA is doing* it . The main RIFF has yet to happen.
- lagniappe 5mo agoI want to agree, however, it will take every bit of that time for some to find new placement. These AI cuts aren't just making it harder to keep a job, but harder to get a job as well.
- stingraycharles 5mo agoThis isn’t my experience, but I think it depends highly on the segment. We have mainly senior C++ devs (database company), and it’s still a challenge to find great engineers. I think the current job market isn’t “one size fits all”. Having said that, obviously if they’re getting laid off, they may very well be in the segment that’s less desirable.
- ifwinterco 5mo agoVery regional as well, Eastern europe is supposedly doing well, western europe (UK/NL) is doing alright, north america seems significantly worse
- dozerly 5mo agoYes Poland in particular is booming. It’s an outsource destination that’s higher skill and less risk than India.
- lbreakjai 5mo agoI've got a couple of friends that left London to go back to Poland during covid. They first continued to work remotely, but ended up switching to Polish companies because the pay was better.
- ifwinterco 5mo agoYes I think salaries are still a bit lower, but the gap has closed a lot. And cost of living is lower in Poland plus there is some tax break for self employed contractors that means you only pay ~20% tax compared to ~40% in the UK. With those two factors you could easily end up better off overall, especially if you have kids
- curioussavage 5mo agoDamn. I got two weeks notice and then got shown the door with nothing. And now I get to compete with all these people who are going to be so much less stressed
- eunos 5mo ago> compete with all these people who are going to be so much less stressed Well many of these folks then would prefer to decompress and chill for a few months instead of hitting the recruitment process early.
- deleted 5mo ago[deleted]
- dfxm12 5mo agoProper layoffs require at least 60 days of notice or 60 days of pay. Maybe you weren't part of a proper layoff, but if you think you were, check out the WARN act.
- IG_Semmelweiss 5mo agoHere you go: The WARN Act is triggered if there is a mass layoff of at least 50 employees (excluding PT) and that number represents at least 33% of the active employees at a single employment site OR, if RIFF means closes location (with 50+ employees affected).
- rco8786 5mo agoIn the US??
- mancerayder 5mo agohuh? That sounds like California?
- frays 5mo agoHave there been any better tech layoff packages in the last few years? This is probably the best, wow.
- yalogin 5mo agoThe question is are they being good to their employees or do they severe headwinds in the job market going forward
- ngcazz 5mo agoAlmost as though they're conscious of how much of a dick move this layoff is...