Not mine but here it is in a nutshell (don’t flag me; not responsible for 100% accuracy): — 16 weeks pay + (2 * years at Meta) weeks pay — 6 months healthcare / insurance — 1 mo stock (November 2022 to keep quarterly stock vest) — 3 (?) months career counseling to help them land another job — misc. Folks on visas will be kept on payroll for at least 90 more days. So that’s 150 days minimum to find another job (?) ? Somebody confirm this? #tech #layoffs #severance Edit: posted here too https://about.fb.com/news/2022/11/mark-zuckerberg-layoff-message-to-employees/
So 1 mo stock regardless of years of service, even if freshly joined? Interesting. Also minor note, but for visa holders it would be 150 days max, not min, to find another job. That is a really nice deal, Netflix tends to only give 120 (on payroll for 2 mo) if you are exited.
Nov 15 is the quarterly stock vest. They're just saying you'll get that even if you were laid off today.
Ah, that makes sense. Thanks!
What happens to the sign-on bonus?
You keep it.
When the fact can’t be changed, people start looking at the realities and fight for money.
What does the ( 2 * years ) mean?
in addition to 16 weeks of pay, you get two more weeks for every year you have been at the company
Thanks
not as generous as it seems. metamates were due for their target bonus in two months which they will no longer received.
Yeah, at least Stripe is still paying out our bonuses.
yes and i heard stripe also accelerated vesting.
16 weeks pay is base salary? Or TC?
Do you get severance if you’re let go for needs support?
How do you return the signed severance letter back to Meta?
Anyone know if the 16 weeks severance inclusive of the 8 weeks of WARN or in addition to (i.e., total 6 months (and more with seniority) of pay without having to work)? Thanks!
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I think your math is slightly off, friend. That said, it is still a pretty solid severance package.
That’s 16 + 10 weeks pay which is half a year base salary?