Google Layoffs: Why employees fired by Sundar Pichai are being called 'Golden 12K'

Google conducted the biggest layoff in its history last week. The company decided to let go 12,000 employees in one go and it was done without any warning to the affected employees. Now, a new term is surfacing on various platforms labeling the fired employees as 'Golden 12K'.

A few users on Blind--a professional community app that verifies its users via official company email IDs--started a discussion about the term 'Google 12K'. Some Google employees responded with an explanation.

What is Golden 12K? 

Sundar Pichai laid off 12,000 Google employees or 6 per cent of the total workforce. However, Google made sure that the employees are offered a good compensation. According to some of the respondents on Blind, the 'Golden 12K' term has been coined for the generous severance pay offered to Google employees who were laid off.

What is the severance pay offered to fired Google employees?

Sundar Pichai shared a letter a few days after the layoffs were announced. In the letter, the Google CEO announced the severance package for affected employees. Here's what is being offered to the 'Golden12K':

• Google will pay employees during the full notification period (minimum 60 days).
• Google will also offer a severance package starting at 16 weeks salary plus two weeks for every additional year at Google, and accelerate at least 16 weeks of GSU vesting
• Google will offer 2022 bonuses and remaining vacation time as well 
• The search giant will be offering six months of healthcare, job placement services, and immigration support for those affected.
• These benefits have been announced for employees in US. Those employees that are based outside US will get support in line with the local practices.

Also read: 'Work for money and move on': Google, Microsoft, Amazon layoffs leave behind disillusioned employees

Also read: 'Decisions I needed to make': Sundar Pichai reveals reason behind massive Google layoffs