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Google layoffs: Here’s what the tech giant is offering to 12,000 sacked employees

Google layoffs: Here’s what the tech giant is offering to 12,000 sacked employees

The company will accelerate at least 16 weeks of GSU (Google Stock Unit) vesting and offer a severance package starting at 16 weeks of salary plus two weeks for each additional year of employment with Alphabet.

 According to Pichai, the company will pay employees in the US for the entire notice period (a minimum of 60 days). According to Pichai, the company will pay employees in the US for the entire notice period (a minimum of 60 days).

Amid widespread layoffs at major tech firms, Google parent Alphabet on January 20 announced it is planning to cut about 12,000 jobs, or 6% of its global workforce. Sundar Pichai, the company's CEO, made the announcement in an email to employees.

Pichai added that the tech giant will "support employees as they look for their next opportunity" and that he accepts "full responsibility for the decisions that led us here."

Here's what Alphabet is offering to laid-off employees:

The company will accelerate at least 16 weeks of GSU (Google Stock Unit) vesting and offer a severance package starting at 16 weeks of salary plus two weeks for each additional year of employment with Alphabet.

According to Pichai, the company will pay employees in the US for the entire notice period (a minimum of 60 days).

For those affected by the job cuts, Alphabet will also provide six months of healthcare, job placement assistance, and immigration support in addition to paying 2022 bonuses and unused vacation time.

The search engine giant will support staff outside of the US in accordance with regional customs.

According to a company spokesperson who spoke to Reuters, the company will pay eligible employees an advance bonus of 80% up front and the remaining 20% over the course of several months. As part of the transition to a new performance management system, Google is deferring a portion of its employees' year-end bonuses, according to a previous report from Reuters. The report is quickly followed by the announcement.

Pichai also stated in the email that those who are just starting their day can choose to work from home now that the shocking news has been announced.  “if you are just starting your work day, please feel free to work from home today,” he wrote in the email.

Published on: Jan 20, 2023, 10:06 PM IST
Posted by: Shubham Singh, Jan 20, 2023, 10:03 PM IST