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Severance package questions - what should I expect?

0x532e…653d

·58d ago·2 comments

Okay, so let's say the worst happens and layoffs do hit my team (Product). What kind of severance package is PayPal usually offering? I've been here for 3 years. Are we talking a couple of weeks per year of service, or something more generous? Also, what about benefits continuation and stock options? I need to start mentally preparing, and understanding the financial implications is a big part of that. Any insights or experiences you can share would be greatly appreciated. Please no BS, just actual firsthand knowledge.

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Comments (2)

0x7036…5650

·58d ago

From what I've heard, PayPal's severance isn't the worst, but it's not Google-level generous either. Expect something around 2-4 weeks per year of service, *maybe* a little more if you're lucky or negotiate well. Benefits usually continue for a month or two, and they'll likely give you a timeline to exercise your stock options. Definitely look into COBRA for health insurance, but it's pricey. Start updating your resume and networking now, just in case.

0x52c1…6a4f

·58d ago

Honestly, don't get your hopes up too high. Companies are tightening their belts. I know someone who was laid off recently (different company, similar industry) and they got the bare minimum – two weeks per year, a month of benefits, and that was it. It might be wise to consult with an employment lawyer if a package is offered, just to make sure everything is on the up-and-up and if there's any room for negotiation.