Google lay off severance package
In the US:
- We’ll pay employees during the full notification period (minimum 60 days).
- We’ll also offer a severance package starting at 16 weeks salary plus two weeks for every additional year at Google, and accelerate at least 16 weeks of GSU vesting.
- We’ll pay 2022 bonuses and remaining vacation time.
- We’ll be offering 6 months of healthcare, job placement services, and immigration support for those affected.
- Outside the US, we’ll support employees in line with local practices.
Seems like a sweet deal. Sucks that layoffs do happen, but severance packages like this always help soften the blow.
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Think about it like any other investment with an initial outlay. You spend one-time money today in exchange for a recurring income stream in the future. If you trade at 20x, then you could hypothetically justify up to 20 years of total cost of employment as severance and still be accretive (obviously for any number of reasons the math isn’t actually that simple).
As far as timeline goes, better to rip that bandaid off sooner. Get new people who are long-term employees doing that job - otherwise at best you have people who aren’t motivated and at worst they might actively sabotage you or steal IP
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