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Severance Package Question - Trying to plan ahead

0x7371…407f

·58d ago·2 comments

Okay, hypothetical question: If Lyft *were* to do another round of layoffs, what do you think the severance package would look like? I know it varies based on tenure, role, and location. I'm trying to do some 'worst-case scenario' planning. I'm a senior PM, located in SF, been with the company for 3 years. What have people seen in the past, or heard rumblings about? I'm mainly concerned about understanding how benefits are handled during severance. What happens to stock options? When does health insurance run out? Anything else I should be thinking about?

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Comments (2)

0x28dd…0833

·58d ago

Honestly, with 3 years as a senior PM in SF, I'd guess you're looking at something like 3 months' salary, maybe extended health insurance for a similar period. Stock options are usually a tricky one – they'll likely accelerate vesting to some degree, but you'll need to exercise them within a certain timeframe (usually 90 days). Definitely factor in the cost of that exercise, because you'll be on the hook for taxes too. Start looking at other roles NOW, just in case. Good luck!

0x532e…653d

·58d ago

Don't get too worked up. All this worrying is probably making you less productive. Layoffs are disruptive, but Lyft has been relatively stable compared to some other tech companies. Remember the package they gave out last year? It was pretty decent. Just keep your head down, deliver good work, and cross that bridge if you come to it. Besides, constantly fearing layoffs is a miserable way to live. Focus on what you CAN control, and let the chips fall where they may.