economy
As Salesforce begins layoffs, here's the standard severance package the company offers employees
Salesforce started notifying employees on Monday about layoffs taking place across the company.
TL;DR
- Salesforce has initiated another round of layoffs, notifying employees on Monday.
- The company's severance plan offers eligible U.S. workers up to 30 weeks of pay.
- Severance is determined by employee level, tenure, and age, with additional weeks for those 60 and older.
- The package includes six months of COBRA coverage, extending to 12 months for employees aged 60+.
- Salesforce's severance appears more generous than recent offers from Oracle, Amazon, and Block.
- Layoffs coincide with concerns about AI's impact on traditional software and a 30% stock drop this year.