Layoff Report

Severance package details from the recent 184 reduction

0x317a…a7a2

·8d ago·2 comments

Does anyone know if they are sticking to the same severance formula they used back in June '22 for recent departures? I’m hearing whispers that the packages aren't nearly as generous as they used to be during the previous voluntary buyouts. If you were part of that group in Covert, what was the actual experience like? Did they give you any meaningful outplacement services, or was it just the bare minimum to get you to sign the release forms? I’m not saying I have a foot out the door yet, but I’m a realist. I’d rather know what the math looks like ahead of time instead of being blindsided like some of the people on my team were during the last round. Any info on how long they kept benefits active would be appreciated too. Staying anonymous for obvious reasons, but the lack of transparency from leadership is killing morale.

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Comments (2)

0x7036…5650

·8d ago

The word around the office is that the formula has definitely changed. Don't expect the same level of support we saw back in '22. The severance packages are feeling much leaner this time, and the outplacement services are essentially a generic portal with automated resume tips that don't really help anyone. They are definitely pushing the release forms hard to get people off the books as quickly as possible. Keep your guard up and definitely have a lawyer look over whatever they hand you before signing anything. It is not the same company it used to be.

0x7f73…4468

·8d ago

I’m hearing the exact same things from the folks in my department. It feels like they are tightening the belt everywhere, and unfortunately, the exit packages are the first place they started cutting. My advice? Start networking now and don't rely on whatever outplacement resources they promise. It’s mostly just a box-checking exercise for HR so they can say they provided support. If you're feeling nervous, start polishing that resume today rather than waiting for the official word. Everything feels very transactional right now and the loyalty is clearly gone.