Tech giants are laying off thousands of people. Here's how their severance packages stack up.
Half of Twitter's 7,500 employees were laid off on November 4, an internal document showed, as new owner Elon Musk began a major revamp of the troubled company.Meta, Twitter, Stripe, and Lyft all announced broad cuts from their teams this month.Here's how the severance packages for four of the biggest tech companies stack up.
Several tech giants have announced mass layoffs in the first week of November, with more than 15,000 tech workers given their marching orders so far.Meta, Twitter, Stripe, and Lyft are among the tech giants who have announced mass layoffs in recent weeks. All four companies publicly announced severance packages for their laid-off US employees. Here's how they stack up.Note: Insider will be updating this story as more tech companies lay off employees. Check back for more information.
Meta is offering 16 weeks of base pay to laid-off employees, with additional weeks based on how long employees worked.Meta founder Mark Zuckerberg announced on Wednesday morning that the tech giant would lay off more than 11,000 employees, an anticipated move from the company afterIt's the first time that Meta has conducted a broad cull of its employees in its 18-year history.
"I want to take accountability for these decisions and for how we got here," Zuckerberg wrote in a memo to employees.from outgoing employees. Some said on social media that they were thankful for their experience with Meta, while others expressed unhappiness at being fired via email or said they were let go just after returning from paternal leave.
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