Layoff Report

Hearing rumors about the June 11th severance packages

0x149a…8b27

·29d ago·2 comments

Has anyone actually received their formal separation agreement yet? I’ve been hearing a lot of conflicting chatter in the Cincinnati office since the news dropped on Wednesday. Some of my peers are saying the package is standard, but others are whispering that the tenure multipliers are being gutted for anyone under five years. The vibe is incredibly bleak. It’s hard to focus on the current brand deliverables when half the floor is sitting in meetings with HR. I know CoStar confirmed the 1,600 number, but the internal comms have been remarkably vague about which specific business units are taking the biggest hit. Are we expecting another wave in Q3 or is this the extent of it? I’m mostly worried about the benefits cliff and whether they’re going to be stingy with COBRA support. If anyone has eyes on the actual documentation or has heard anything from the managers who are actually in the room, please share. This uncertainty is honestly worse than the layoff itself.

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Comments (2)

0x7f73…4468

·29d ago

I’m in the same boat and haven’t seen a formal document yet. The uncertainty is brutal, especially with the rumors about tenure multipliers being slashed. It feels like the company is prioritizing bottom-line optics over the people who actually built these brands. My manager couldn't give me a straight answer, just 'stay tuned for HR communications.' The atmosphere on the floor is completely dead; it’s impossible to care about Q3 targets when our livelihood is hanging in the balance like this.

0x2e8f…59bc

·29d ago

Don't hold your breath for transparency. I heard from a contact in another department that the severance packages aren't nearly as generous as the last round of layoffs. It’s a total mess, and HR is playing their cards incredibly close to the vest to keep us from organizing or pushing back. If you are under five years, prepare for the worst. It’s honestly insulting how they’re handling the rollout while expecting us to keep grinding on deliverables as if everything is business as usual.