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
Hope you get laid-off & get a good severance package! Will see how your job search goes.
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
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
@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
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.
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.
Not everyone works in a company listed in American stock exchanges. Often people get no severance or max limited to their official notice period. Sometimes the F&F also gets delayed and puts them into a very difficult situation.
A fundamental question, “Have u ever faced a layoff?” If not, I understand your viewpoint.
While there are enough comments from the employees’ side which drive my point through as well, I would like to highlight one more point - even the employer / manager will not enjoy laying off people (normally. There could be sadistic exceptions but not come across any so far). Companies would never want to be in such a scenario and managers would never want to have blood on their hands. So it’s a bad situation from either side. On the severance package, very few companies in India actually care so much (mostly about their reputation and a still fewer about employee well being) that they actually offer severance packages. All others are already dying so don’t have the liquidity or will first payout the investors and creditors (maybe the founders as well) before thinking of laid off employees.
Not everyone gets that much severance man.
Companies just give a month's pay and in 99% cases people can't get a job in that one month.
The pressure for people having responsibilities is way more than people like you.
I hope you get more responsibility and get fired soon to feel the pain
Layoffs are a big deal period. The more we have folks making a big deal out of it, the fewer instances of over hiring and mass firing we will see. It does take a toll on every party involved, founder, manager and employee.
PS: @cashborn56 : read somewhere that you are starting up, hope you dont take this attitude towards your startup