From what I heard so far, impacted Snap employees will get 4 months of salary and visa employees get extended period to find the next job. I think this is generious and fair. Visa employees will be especially thankful.
On the other hand, other companies, Amazon/Meta or maybe Google tried to reach the desired attrition by freezing all headcount including backfill positions.
What does it mean? It overworks the entire team and ends up pushing out the top performers (since they are more likely to be flooded with additional work) and keeping the coasters. I have already seen a couple of good Amazon teams getting thrown into this vicious cycle. FAANG should just fire the bottom 20%.