Compare the separation packages of Google, Amazon, Microsoft, Meta, Twitter

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Google headquarters is seen in Mountain View, California, United States on September 26, 2022. (Photo by Tayfun Coskun/Anadolu Agency via Getty Images)

Anadolu Group | Anadolu Group | Getty Images

Tech companies have laid off tens of thousands of workers in recent months as the industry grapples with investors’ appetite for less risk and rising borrowing costs. Laid-off workers across the tech sector are entering an uncertain labor market, with headcount reductions occurring across all skill levels and teams. Few companies, with the exception of Apple, have been immune.

Laid-off employees can receive severance packages of varying sizes and lengths, depending on where they work. Here’s what some of the biggest tech names have promised their employees.

Alphabet

Alphabet Google-parent reduces head count by 12,000

Microsoft

Amazon

Sales force

Meta

Mark Zuckerberg, chief executive of Meta Platforms Inc., center, leaves federal court in San Jose, California, USA, on Tuesday, December 20, 2022.

David Paul Morris | Bloomberg | Getty Images

At the time, Zuckerberg promised “all” non-retired employees 16 weeks of severance, plus two weeks for each year of service, as well as RSU coverage and health insurance for a predetermined period.

In December 2022, some workers laid off from a non-traditional apprenticeship program told CNBC that they were receiving substandard severance packages compared to other recently laid off workers. . Instead of the 16 weeks promised by Zuckerberg, they only received 8 weeks of basic pay, among other substantial differences.

Twitter

Layoffs at Twitter started shortly after Elon Musk completed his takeover deal in 2022. Twitter was expected to lay off more than 3,700 employees, or more than 50% of its workforce. Ultimately, many more employees quit after Musk announced that Twitter employees would be expected to commit to a “hard” work environment.

Under the terms of Musk’s buyout agreement, the new management was to honor existing separation agreements. But a group of Twitter employees filed a lawsuit in November, shortly after the layoffs were executed, accusing Twitter of firing them in violation of California’s layoff notice law.

Musk was has been said before Disaffected employees would receive three months of severance pay, but some Twitter employees said Twitter would only give them one month of severance due to a non-disparagement agreement and legal waiver.

The class action was renewed shortly after it was filed with allegations that Twitter offered half of what was promised to some lay employees.

Twitter also laid off more than 4,000 contract workers without giving them advance notice, CNBC previously reported.

CNBC’s Annie Palmer, Jonathan Vanian, Jennifer Elias, Jordan Novet, Lora Kolodny, Ashley Capoot, and Sofia Pitt contributed to this report.

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