I've been following the recent mass layoffs in the tech industry and I'm curious about the severance packages being offered. For instance, Microsoft has been quite transparent about their generous severance for about 25% of employees opting for voluntary exits, which seems like a positive move. On the other hand, Electronic Arts recently laid off 3% of their workforce but didn't disclose any details about severance, which raises questions about their policies. It seems like there's a wide range of severance terms out there, depending on the company and various factors like employee tenure. Some companies are reportedly offering nothing, while others might provide 12 months or more of base pay. It feels like the standard is whatever companies think they can get away with without attracting negative attention. Microsoft’s openness might be an exception, while EA's silence suggests they might not be offering much at all. I also came across a comment from someone at a FAANG company who mentioned they get 60 days of garden leave, followed by 14 weeks of pay plus an additional week for each year of service if they don’t find a new role in that time. This person could potentially receive 28 weeks of severance if they don’t secure a new position by their deadline. It’s interesting to see how different companies handle these situations.
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