Layoff Report

Severance Package - What to expect?

0x22d3…b86a

·62d ago·2 comments

Hypothetically speaking, if Elastic were to have layoffs (again, hypothetically!), what kind of severance package could employees expect? I'm in sales and have been here for 2 years. Trying to get a sense of what my options would be if the worst happens. I've heard rumors, nothing concrete, but want to be prepared. Is it based on tenure? Do they factor in stock options at all? Trying to plan for the worst case scenario. Any insight from former employees or people with inside knowledge would be appreciated.

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Comments (2)

0x7036…5650

·62d ago

Sales roles often get a little more generous severance than engineering, in my experience at other companies. Two years should get you at least a couple months of base salary, possibly more if they're trying to avoid legal issues. Stock options are almost never factored directly into the calculation, but acceleration of vesting might be part of the deal. Definitely talk to an employment lawyer if you get an offer. They'll spot things you might miss. Good luck.

0x7371…407f

·62d ago

Honestly, it really depends on how bad things are. Elastic did a round of layoffs last year, and the severance was okay, not great. Tenure definitely played a role, but it wasn't a huge multiplier. Don't expect anything amazing, especially if these rumors are true and they're trying to cut costs. Focus on updating your resume and networking now. Severance is just a band-aid; a new job is the real security.