At the end of the article it states that they offered their employees a chance to leave if they wanted with a generous severance package and that 10% took it. Doesn't sound like they forced them to leave.
It's only generous in dotcom terms. My mom took an early-retirement package from Kaiser Permanente as a bog-standard phone-room nurse: free no-copay health insurance for the rest of her and my dad's life. Free treatment, free prescriptions, free equipment. Free everything, for life.
That's a great deal for your mom, I'm glad she was able to get such an amazing deal.
On the other hand, Zenefits is an unprofitable startup with huge internal problems. Clearly, expecting them to provide such sorts of benefits would be beyond unreasonable.
On the other hand, Zenefits is an unprofitable startup with huge internal problems.
That's the "dotcom" part, but yeah.
I strongly beg to differ. That's just every startup in general. The dotcom days were way more debaucherous and perverse than what's going on today with startups.
Sorry, my mistake, I was using "dotcom" for the larger movement beyond the 2000 crash, including today. I was there, I can see the differences and similarities.
What? Early retirement is a different ballgame than severance package. Why should zenefits be on the hook (or compared to) for the former?
They way I see it, they are both push-outs of staff.
That costs a health care company very little.
You didn't know my dad! Suffice it to say they have definitely lost money on the deal.
Re:Zenefits Loses Over Half of Its Value
by toomuchtodo on Thursday June 30, 2016 @10:41PM
(#12013564)
That's incredible. Kudos for her taking that deal.
Looks like they did both, they laid off 106 and then another 129 took the package:
https://techcrunch.com/2016/06/14/zenefits-is-laying-off-ano...
https://www.buzzfeed.com/williamalden/129-zenefits-staff-qui...
Re:Zenefits Loses Over Half of Its Value
by paultannenbaum on Friday July 01, 2016 @02:06AM
(#12014138)
I have a friend who worked at Zenefits and told me about the offer. Everyone in the company was offered two months salary and paid COBRA health benefits for four months if they wanted to leave. According to him more than 10% left.
If this is the public slash they are announcing, how bad do you think reality is looking on the inside? Just imagine the spin masters trying to spin this to their employees.
I can't help but chuckle a little. Kids.
That being said, I'll add that there are certainly aspects of this that are not funny at all. Real people lost their jobs due to the tomfoolery of others. I feel for them.
edit
Are you saying that all 100 people got the generous severance package?