16 weeks’ pay, health insurance and more: What sacked Meta employees will get – Times of India
Meta, the parent company of Facebook, WhatsApp, and Instagram, has announced that about 11,000 employees will be laid off. Meta CEO Mark Zuckerberg in a blog post said that it was the hardest decision he had to take and apologised for it. However, he did say that the company will do whatever it can to support the laid off employees. “There is no good way to do a layoff, but we hope to get all the relevant information to you as quickly as possible and then do whatever we can to support you through this,” he said.
How will employees be told about lay offs?
Zuckerberg said that “everyone will get an email soon letting you know what this layoff means for you.” Post the email, every affected employee will have the opportunity to speak with someone to get their questions answered and join information sessions.
Employees will get a severance package
In the US, employees will get 16 weeks of base pay plus two additional weeks for every year of service, with no cap. Also, Meta will pay all employees their remains paid time off leave.
What about those with stock options?
The Meta CEO clarified that everyone impacted will receive their November 15, 2022 vesting.
Health insurance for families
Even after being laid off, Zuckerberg said that the company will cover the cost of healthcare for people and their families for six months.
Access to job leads and more
All employees that have been sacked will get three months of career support with an external vendor, including early access to unpublished job leads.
What about employees on employment visas
Tech companies like Meta rely on employees who are on employment visas. Zuckerberg said that there is a notice period before termination and some visa grace periods, which means everyone will have time to make plans and work through their immigration status. “We have dedicated immigration specialists to help guide you based on what you and your family need,” he added.
Access to email but not other systems
Zuckerberg also revealed that the company had decided to remove access to most Meta systems for people leaving “given the amount of access to sensitive information.” However, their email addresses will be active for a day “so everyone can say farewell.”
How will employees be told about lay offs?
Zuckerberg said that “everyone will get an email soon letting you know what this layoff means for you.” Post the email, every affected employee will have the opportunity to speak with someone to get their questions answered and join information sessions.
Employees will get a severance package
In the US, employees will get 16 weeks of base pay plus two additional weeks for every year of service, with no cap. Also, Meta will pay all employees their remains paid time off leave.
What about those with stock options?
The Meta CEO clarified that everyone impacted will receive their November 15, 2022 vesting.
Health insurance for families
Even after being laid off, Zuckerberg said that the company will cover the cost of healthcare for people and their families for six months.
Access to job leads and more
All employees that have been sacked will get three months of career support with an external vendor, including early access to unpublished job leads.
What about employees on employment visas
Tech companies like Meta rely on employees who are on employment visas. Zuckerberg said that there is a notice period before termination and some visa grace periods, which means everyone will have time to make plans and work through their immigration status. “We have dedicated immigration specialists to help guide you based on what you and your family need,” he added.
Access to email but not other systems
Zuckerberg also revealed that the company had decided to remove access to most Meta systems for people leaving “given the amount of access to sensitive information.” However, their email addresses will be active for a day “so everyone can say farewell.”
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