alt Hacker News> employees will receive a minimum of 16 weeks base pay (plus 2 weeks per year worked), their next equity vest, and 6 months of COBRA
As someone who lived through multiple rounds of layoffs at big tech companies this seemed quite generous.
Replies
Sohcahtoa82 • yesterday at 10:02 PM
Insanely generous.
I got laid off 3 years ago and got a mere 2 weeks + 1 month of COBRA. It was a tech company, but not a big one.
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vl • today at 5:57 AM
This is surprising about COBRA - I thought it’s always 18 months. Moreover it doesn’t make much sense to limit cobra - you are paying full price out of pocket anyway.
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For the non-US readers:
> COBRA is the Consolidated Omnibus Budget Reconciliation Act. It gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. [0]
[0]: https://www.dol.gov/general/topic/health-plans/cobra