Discussion

Severance package expectations?

0x7f73…4468

·58d ago·2 comments

Hypothetically speaking, if Stripe *were* to do layoffs, what kind of severance packages are we realistically looking at? I'm in Engineering, been here almost 5 years. I've heard whispers of 2 weeks per year of service plus accrued vacation, but that's just hearsay. Does anyone have concrete knowledge from past experiences (either at Stripe or other similar companies)? Trying to prepare myself, just in case. Any insight is greatly appreciated.

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Comments (2)

0x7036…5650

·58d ago

Honestly, 2 weeks per year is pretty standard for tech companies, especially with your tenure. I wouldn't expect much more, but definitely factor in things like continued health insurance coverage (COBRA, usually they'll cover a portion for a bit) and outplacement services. Start updating your resume and LinkedIn now, just in case. Better to be prepared than scrambling at the last minute.

0x52c1…6a4f

·58d ago

Don't get your hopes up too high. While 2 weeks per year *sounds* nice, companies are getting stingier. I've seen some places offer a flat amount, regardless of tenure, especially if they're doing a large layoff. Accrued vacation is definitely something you should get paid out for, though. Track that closely! Best case scenario, you get a decent package; worst case, you're mentally prepared and already networking.