Laid-off employees across the tech sector enter an uncertain job market. Here's what their previous employers have offered to tide them over.
, it commenced its latest wave of layoffs, with the deepest cuts being felt in its retail and human resources divisions.
For retail employees in the U.S., Amazon is offering full pay and benefits over a 60-day period where Amazon will continue to keep them on the payroll, but they won't be expected to keep working. After that period, Amazon will offer laid off employees several weeks of severance depending on the length of time with the company, a separation payment, transitional health benefits and job placement.
Amazon's severance package appears similar for affected employees in other units. Human resources head Beth Galetti said the company will offer a separation payment, health benefits as applicable by country and job placement. It's unclear if Amazon's severance package includes any provisions that would allow employees to accelerate the vesting of stock compensation. This matters to Amazon employees, as the company's compensation has historically been weighted heavily to stock. An Amazon spokesperson didn't immediately respond to a request for comment.
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