Re:Coinbase lays off around 1,100 employees
by mlyle on Tuesday June 14, 2022 @04:51PM
(#31745899)
> which offers 1/3 of your monthly salary for each year of employment. To receive 14 weeks of salary, you'd need to work at a company for 3.5 years,
1/3rd of a month is 1.44 weeks. To get 14 weeks, that would be 10 years.
You're right in that Europe generally provides less severance, but they do tend to sign fixed term, renewing employment contracts with rather lengthy notice periods for either side to terminate it. E.g. in Switzerland, statutory minimum after 1 year of employment is end-of-calendar-month + 2 months of notice, but typical agreements extend this.
Also, there's the whole concept where regulators are involved with layoffs and negotiate for payments and assistance in many jurisdictions.
1/3rd of a month is 1.44 weeks. To get 14 weeks, that would be 10 years.
You're right in that Europe generally provides less severance, but they do tend to sign fixed term, renewing employment contracts with rather lengthy notice periods for either side to terminate it. E.g. in Switzerland, statutory minimum after 1 year of employment is end-of-calendar-month + 2 months of notice, but typical agreements extend this.
Also, there's the whole concept where regulators are involved with layoffs and negotiate for payments and assistance in many jurisdictions.