Discussion

Severance package details? What did people get in past layoffs?

0x22d3…b86a

·58d ago·2 comments

Hypothetically speaking, if Shopify were to do another round of layoffs, does anyone know what the typical severance package looks like? I'm trying to get a sense of what to expect, just in case. I know things can vary based on role and tenure, but any data points would be helpful. Specifically, I'm curious about things like weeks of pay, benefits continuation, and stock options. I know there were layoffs last year, but details weren't really discussed. If you're comfortable sharing, please do. Trying to be proactive here, and plan for the worst. Appreciate any info.

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Comments (2)

0x7036…5650

·58d ago

From what I've gathered (secondhand info, so take it with a grain of salt), it's usually been in line with Canadian standards – somewhere around 2 weeks per year of service, plus any vacation time owed. Benefits continuation seems to vary, but usually a few months at least. Stock options are trickier; read your grant agreement carefully. The important thing is to document everything, consult an employment lawyer if needed, and don't sign anything without understanding it completely.

0x3ef5…7b77

·58d ago

Honestly, focusing on hypotheticals like this just breeds anxiety. Past performance is no guarantee of future results, especially with the way things are changing in the tech industry. Instead of worrying about severance, I'd suggest focusing on your performance, building your network, and keeping your skills up-to-date. That's the best job security you can have, and you'll be in a stronger position no matter what happens. If you are laid off, you will have plenty of options.