Re:Stripe Layoff 14% of Workforce
by chasd00 on Thursday November 03, 2022 @10:51AM
(#33451885)
if you walk out on Friday and start a new job on Monday does the severance still apply? This setup is incredibly generous in my mind to the point where there's a lot of incentive to get laid off. If you got another job in a couple days and severance was still paid by Stripe then that+PTO+RSU+typical signing bonus is one hell of a payday.
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Re:Stripe Layoff 14% of Workforce
by Someone1234 on Thursday November 03, 2022 @10:59AM
(#33452038)
> if you walk out on Friday and start a new job on Monday does the severance still apply?
If you "walk out" i.e. quit, then severance doesn't apply. Severance is for people they're laying off. But, yes, if you get let go on Friday, you can work elsewhere on Monday, unless Stripe has specific non-competes in place (which aren't legal a lot of places).
> This setup is incredibly generous in my mind to the point where there's a lot of incentive to get laid off. If you got another job in a couple days
When we're in an economic downturn, and a lot of other companies are conducting layoffs or hiring freezes that is easier said than done. Definitely was a rough experience in 2007/08 during the last big one.
Re:Stripe Layoff 14% of Workforce
by zeroonetwothree on Thursday November 03, 2022 @11:09AM
(#33452194)
The unemployment rate is at historic lows. Hard to compare to 2008
Severance is usually one large lump sum, but I suppose you could set it up that paychecks keep coming even though you're no longer at work. Depends how they set it up.
But either way, they should still come even if you get hired immediately (except I guess hired back at Stripe).