BouncyPretzel

Layoffs a big deal? Positive side of layoffs

I don't know why everyone is making a big deal out of layoffs. Even the ones who laid off are not that concerned than the ones who comment.

Laid off employees literally get free money upwards of 10 lakhs in many cases of senior developers who are laid off from top tech startups. Companies pay severance equal to 3-6 months salary of laid off employees. Some even offer other benefits as well.

I personally know a couple of Devs who got around ~9-10L in severance pay. So, yeah if there are layoffs happening in funded tech startups or leading tech companies, considering their pay range, laid off employees get handsome severance pay including employee benefits

11mo ago

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WigglyRaccoon

Google11mo

Hope you get laid-off & get a good severance package! Will see how your job search goes.

BouncyPretzel

Meta11mo

I would be happy if I had the same experience as of @TejaMainHun with a severance pay of 7 figures🤩 but currently I m building my own startup🚀😅

ZippyRaccoon

Stealth11mo

Ah, seedhe seedhe bolo na you're trying to justify layoffs

SquishyLlama

Stealth11mo

got laid off in August received severance equivalent to 2020's salary (7 digits) got a new job in a 40 days time (in this market) with a generous joining bonus

BouncyPretzel

Meta11mo

Severance equivalent to 7 digits is insane😲

Lucky are the ones who got laid off from funded tech/leading tech companies

ZestyQuokka

Stealth11mo

@TejaMainHun Babe you are one of God's favourite children. Not everyone is this lucky

ZestyQuokka

Stealth11mo

Not all companies provide severance. Especially in India, you are considered lucky to receive your FNF

Tbh this is such a elitist way of viewing things

SquishyLlama

Stealth11mo

@BiryaniEnthu yep , i remember during peak 2nd wave of covid I had to go through a lot of hassle to get my FnF , though what i see now that majority of the companies are doing this in time or keeping the employees in loop because they are afraid of twitter posts and linkedin vomits to some point.

And severance toh is bot bound by law here, lot of malpractices happen too , incompetent managers settle scores , PIP induced layoff , Deceitful C level executives

have seen that all , but sometimes things balance itself I have seen asshole managers , and worked under managers who bring 200% best out of you

SquishyNugget

Stealth11mo

Companies are having pip and forcing employees to resign on their own so as not to pay severance package. I am aware of few companies who did that.

BouncyPretzel

Meta11mo

I heard u ll be getting severance even if you get laid off on PIP🤔

DizzyLlama

Stealth11mo

Dish Networks did to my friend. His Staff engineer did this to a SDE-2

SleepyPickle

Stealth11mo

Got laid off (asked to resign) as the company couldn't raise and I'm the one with the highest pay check there. Got another offer in exactly 1 month with good hike and in a domain which i would have offered to work for free. And if I'm given a choice now I would still not choose getting laid off. May be because it's my first time but getting laid off sucks. More than the loss of employment and despite long resigning to the fact that we are all replaceable, I'm yet to get over the fact that I was the one who got laid off among my peers. I don't want to be at the mercy of another company again so began my startup on the side, recruited some freshers with money from my own salary and driving it on the side. It has been 3 months since I'm laid off and we are about to get our first paying client while I joined the new company. All in all a big kick on the butt for my motivation to take off but I would still not pick getting laid off.

WobblyPancake

Dukaan11mo

What are u working on ?

SleepyPickle

Stealth11mo

Something in ecommerce space.

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Bangalore19mo

Meesho started layoffs !!!!

There was some call around 9 AM today, some folks are laid off. Didn't know the % yet.

Or get it on the stores.

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