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Meta to cut 10% of staff: What will be the severance package for US employees?
In an internal memo sent by Meta’s chief people officer, Janelle Gale, the company detailed the severance package it will supposedly offer to those affected.
Meta plans to lay off 10% of its workforce, about 8,000 employees, next month, on May 20. According to an internal memo, the company told employees that those affected would receive the termination letter on their work and personal emails.
“Over the last few weeks we have been working on some changes to our organization that will result in us laying off around 10% of the company on May 20, and closing about 6,000 open roles. Normally, we would want to nail down more details before communicating about this broadly, but since this has leaked, I want to share what I can right now. I know this is unwelcome news and confirming this puts everyone in an uneasy state, but we feel this is the best path forward, given the circumstances,” reads the opening para of the memo sent by Meta’s chief people officer, Janelle Gale, reported Business Insider.
Also Read: Meta says it will cut nearly 8,000 jobs in May: Read top exec’s internal memo
It also announces a tentative severance package for the affected employees. Reportedly, the memo states that the company is offering a “generous severance package”.
What will the severance package for US employees be?
“We will support those who are laid off with a generous severance package which, in the US, will include 16 weeks base pay plus two weeks for every year of employment,” the memo said.
It added, “We will also cover the cost of COBRA health care coverage for US employees and their families for 18 months.”
What about employees outside America?
“Packages outside the US will be similar but vary by country, as will local timelines and processes. We will also offer career services to support people in finding another role, and immigration support for those who need it. We'll share more of these details in a follow up post ahead of May 20.”
The memo from Gale further added, “I know this leaves everyone with nearly a month of ambiguity which is incredibly unsettling. We will try to answer your questions here in the comments but as we're still working through the details we aren't able to share much more until later in May. Meanwhile, you can find more information on the People Portal which includes our standard FAQs and logistical details for layoffs.”
