These are the severance packages that tech giants like Google, Meta, and Amazon offer to fired employees

The Big Picture: Many tech companies have seen record profits during the pandemic, prompting them to ramp up investments and rapidly expand their workforce. However, with growing fears of a global recession, more and more have recently announced mass layoffs affecting thousands of employees.

In the first three weeks of this year, More than 100,000 workers In the tech industry they have lost their jobs. a New report He shows that takedown packages vary greatly from one tech giant to another.

On Friday, Google Alphabet Alphabet announce It was laying off 12,000 employees, about 6 percent of its global workforce. According to a SEC filingSeverance packages for U.S. employees include 16 weeks of accelerated salary and stock vesting plus two additional weeks for each year worked at the company. Laid-off employees will also receive 2022 bonuses, paid vacation time, and six months of healthcare.

At the beginning of the year, Amazon has been confirmed It planned to shed 18,000 employees, representing about 1.2 percent of its total workforce. Retail employees in the United States will receive full pay and benefits during the mandatory 60-day notice period without having to continue working. The company will also offer several weeks of severance, severance pay, and transitional health benefits, in addition to employment.

Meta CEO Mark Zuckerberg announce Last year the company reported that it would cut more than 11,000 jobs worldwide, about 13 percent of its workforce. Laid-off employees were promised 16 weeks of severance pay plus an additional two weeks for each year of service. The company said it will also cover its health insurance for six months and offer RSU benefit, career services, paid time off, and immigration support for employees with visas.

Salesforce recently announced that it will lay off more than 7,000 employees, with CEO Marc Benioff Suggestion Young remote workers may be to blame for the company’s lower productivity. Severance packages include a minimum of five months of salary, six months of health coverage, and two months of overseas support.

Twitter CEO Elon Musk initially planned to reduce staff by 50 percent after taking over last year, though many chose to resign rather than commit to the new one.hardcoreWork Culture. Later, Musk claimed that everyone who left was offered a reward of three months.

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