I’m probably just a complete d-mb a$$ but I dont feel much empathy for laid off employees who have tenure assuming the severance packages match what is on magenta pulse.
- 2+ months garden leave
- 2 weeks additional severance per year of service on top of garden leave (max of 26 weeks total)
- Additional lump sum payment for those 20+ year lifers who already should have ample savings
- 100% bonus payout regardless of prior year performance
- Next stock vesting for ICs (even more vesting for Director +)
This means those with 8+ years of tenure are getting 6 months of severance pay plus their stock and 100% bonus? This is much better than most Fortune 500 companies right? I get that the job market su-ks but if you have been at all prudent with your finances and have an emergency fund on top of severance then this could end up being a paid vacation for many. This doesn’t even consider unemployment benefits.
I do have empathy for young people or people with kids who are trying to make it in this crazy high cost of living world. But, tenured Gen X and boomers… no empathy for you whatsoever. If you havnt been able to save and invest for the past 25-35 years then I’m sorry for whatever circumstances led to this. Hopefully this generous severance package is enough to bridge you until retirement or social security kicks in