While everyone in the press is touting Meta for generous severance package - it is only 8 weeks severance on top of the WARN requirements. And it is not going to pay the "earned bonus" for 2022 (everyone will be employed till Jan 13, 2023). Take money from one bucket to fund the other bucket and create false market optics. Meta Mantra! Fairness - as defined by Meta (based on internal dictionary). #severance #layoff
Every company I have worked with before Meta had a policy to pay bonus only if you are employed with the company as of bonus vest date. No company who has done recent layoffs have paid bonus but has paid lesser severance. I hate that layoffs happened but severance was generous.
Still a good deal compared to most, especially with a company this size
Are other companies paying bonuses to laid off employees? “Only 8 weeks more”? Warn requirements are 8 weeks, so they are paying literally double. And that’s a minimum because you get 2 weeks for each year employed as well.
Only 8 weeks? U don’t live in the real world. That is definitely generous. Stop ur whining.
I heard that Meta already paid 70% or 80% of 2022 bonus earlier
Where do you hear such fake news? They paid 50% amd the cash bonus is a significant percentage of the total comp.
When my spouse was laid off in 2020 he only received one month of severance - the same as everyone else - regardless of tenure with the company. From where I'm sitting, four months is very generous.
Severance is most generous compared to all companies out there, but tech bros are so deep in their bubble they can’t even hear how entitled they sound.
Once I out my 2 week notice and was terminated on the spot. Lost my health insurance
Company multiplier is probably 0.8 this time and they already paid 80% up front few months back. It’s fair.
When did they pay bonus?
I would be surprised if it’s 0.8
Are you still living in metaverse?
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Agree. Millennials probably have not seen GenX golden handshakes from MSFT, JNPR, AMAT, JDSU, CSCO, ORCL, INTC, IBM, RIM, CTXS, AMZN, GOOG between 1994-2013
What are these GenX golden handshakes?
Up to 36mth severance. Forward vest RSU up to 10yrs. That’s how I bought my 1st home, 100% cash upfront while flipping burgers at McD for MW in 2012