Even the layoff handling was close to perfection. 1) 14 weeks severance pay ( minimum ) 2) PTO unused will be paid 3) rsu vesting allowed for next 14 weeks 4) 6 months of Medical premium paid in cash 5) Help to find a new job in other companies 6) Immigration help to people on work visa 7) Eligible for yearly bonus Even laid off employees are treated so well. Microsoft preached that they care, stripe showed in action. Really humane way to share layoff news. Respect for stripe x 10, great company! https://stripe.com/newsroom/news/ceo-patrick-collisons-email-to-stripe-employees TC 160k
Yeah. But with such good products, the fact that they had to do significant layoff is not very reassuring. I thought they were doing so well. What happened? Laying off because everyone else is? Or what.
They acknowledged they over hired
Changing focus from growth to profit in a tougher economy
FWIW Microsoft severance is basically identical. Curious to know what "industry standard" is
Medical benefits get terminated on last day of employment
When did Microsoft have lay offs? How big was it?
This is best in class. Respect 🙏
BS. Stop there. If you are not laid off today. Please don’t say Stripe is a great company and they gave me a better severance. I was laid off on my maternity leave. This gives just no excuse on how badly pregnant women are treated at Stripe. It does not just stop how inhumane was that. No empathy towards fellow humans. Stripe would be a great company to work for. If they would have cut their leadership roles which did not show any growth or impact in few years. Just mismanaged leadership team. All leadership roles taking paycut to show how empathetic they really were and saving employees from being laid off. I really want to see leaders being empathetic not saying we are sorry and we are the reason you were laid off. I had so much respect for PC and JC. I just joined the company as my husband met them at club when they were barely starting Stripe. He always admired them so much that he personally asked me to apply and work for this company. I was doing so well in my previous company. I was more than happy and excited that I was working for great leaders. Just to realize they have hired useless leadership team top down and it’s a complete mess. My husband has been absolutely devastated to hear that I was laid off when I was on my maternity leave.
I'm so sorry to hear that. Hope you can find something else quickly.
Is this legal?
Wish Twitter was this empathetic
Yea you will get 1 week
Your first layoff? I got 4 weeks and security guy to walk me out on mine. Consider yourself lucky in this day and age.
I really wish well for everyone who got laid off. Stripes a great company overall As for layoffs, No matter how much lube companies use it doesnt change the fact that you re getting ducked.
Thanks adyen. Now stop making us look bloated and wasteful ok?
I didnt mean anything negative, nothing but respect for Stripe!
Well, they are best at creating PR. It sucks to be laid off but they executed it masterfully.
They are definitely more generous than most. But nothing like what OP is trying to create in terms of an impression. Its still brutal but the benefits and severance are solid.
Sounds like empire building strikes again. Maybe it's because I am old, but I seriously don't understand how all these companies try to grow so quickly in HC, and then get surprised when the bill is due. And the it messes with people's lives - people move, are on visas, etc. I guess as layoffs go this was not the worst, but better to avoid in the first place (barring truly unforseen circumstances)
This guy was let go without severance [Blind] Check out this post! Was Let Go from Stripe just ahead of Layoffs (Tech Industry) https://us.teamblind.com/s/BAfvYTRj
meaning that person was fired no?
Yes
What's a non employment Visa? H4?
Yep that’s one possibility, don’t know others.
I think the best step is to keep the visas on till the last severance check is paid out. That way visa folks, who got fired, get about 22 weeks to find a new job.