I heard it is only a couple of months of pay and health benefits? After that, COBRA is the only option, and it is not cheap.
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@wg - As you stated, your wife left 10 years ago. The stock didn't move much from 2000 -2015. If you look at 2015, the price was about $50. Now the price is $500, continued contribution is super important.
For someone who started in 2000 and was just laid off, combining full 401k contribution (with matching) RSU, eSPP, they'll be looking at a range of $8 -12M in my opinion. Assuming they didn't diversify and didn't sell along the way. The last 10 years have been absolutely incredible. Unfortunately, the downside has been employee layoffs.
@fk. my spouse left Microsoft 10 years ago as an L65 with 15 years of service - we are not even close to $5M in stock, more in the $2M range. A decent amount but not $10-20M.
@eq Without years of service this is useless information
@k7 you make good points.
@jv Well, they would've been given stock this entire time annually, and tons of it would've vested, so provided they didn't sell it over the course of these 19 years they'd be sitting pretty. And if they didn't take advantage of the ESPP this entire time then that's on them. Also the 401K match is phenomenal, so if they weren't taking advantage of that as well that's on them. Even if they aren't above a 66. Even at 60-65 you are still getting the same ESPP and same 401K match, and still getting stock awarded to you. Only real difference is how much stock annually - that's it.
@fk: true for 66+, but certainly not for under 66 and it differs from one employee to another.
With 19 years at MSFT, including all RSU and eSPP, he/she should be a multi-millionaire by now, with an approximate value of 10 to 20 million.
why need a package? buy a one way ticket to Bangkok :)
I’ve heard it’s default 2 months severance and then for every year with the company it’s an additional 2 weeks. I don’t know if there’s a limit or a cap, nor do I know if that extends to COBRA or anything.
My friend told me he received 2 months!
Ask AI. You know, the reason you are being let go. Ask AI.
@af this is what I heard as well
I heard it is 9 months for a 20-year employee, I would assume it is a bit less for folks in the 15-19 years…