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0 pointsdatalopers3y ago0 comments

No it's not. Severance is extremely common, while this package is quite generous.

0 comments

Severance is common in high paying tech jobs. Severance is not common in general.

Almost 60% of US workers are hourly and most of them don't get severance. A lot of the other 40% dont either.

https://www.workstream.us/blog/hourly-vs-salaried-jobs-benef...

Severance as in a 'voluntary' payment by employers is a US thing that I don't understand. Do you mind explaining why it gets paid at all?

In the UK, it's common for employers to have contractual obligation to pay a notice period, and for longer term employees they are legally obliged to be firing them on capacity or redundancy grounds - so it is common to pay some severance in order to pay the employee to resign themself and sign some legal paperwork saying it's okay.

I don't get why employers pay extra money "just to be nice" where there isn't some legal reason to do it...?

ngcc_hk3y ago

Thought there are 0 hour job as well in Uk. But Uk at least have universal health care.

bogomipz3y ago

Not only is not common but it's definitely not "extremely common." In the current wave of layoffs signaling the end of the "cheap money era" it does seem more common however. At least among the types of companies that are likely to make it onto the HN front page. I've worked for plenty of startups where we got nothing more than being paid up through the day we were laid off. And most of those withheld our last check until we returned all company property.

VWWHFSfQ3y ago

Severance is definitely not common in startups. They'll usually burn the cash right up until the very last investor says 'no more' and then call it quits. They might have one more pay period (or two) in the bank.

johnvanommen3y ago

I got hired by a place, and my first paycheck bounced.

The owners are now billionaires.

(They sold the company to a Fortune 100 about 18 months later.)

wahnfrieden3y ago

Employers are by dollar amount the biggest actual thieves by far in the US. Business owners ought to generally receive more scorn and critical evaluation than common property thieves who represent a thin fragment, if we really care about theft

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fnimick3y ago

Or worse: they go right up to the edge, convince people to work for back pay for "a month or two", then shut down afterward. I've seen that happen.

wahnfrieden3y ago

It’s definitely common in parts of the world where workers have organized to have severance required by law or through other organized means. When workers demand it one on one with their employers, they have no leverage and are at the mercy of “nice owners” (ones that value reputations effects created by worker-favorable market conditions)

revlolz3y ago

This kind of package is very rare. It's uncommon to get any kind of severance without tenure and many companies have been laying off w/no severance what-so-ever in my area regardless of tenure. They pay through the current week, expect you to return all equipment, and f right off.

j / k navigate · click thread line to collapse

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nonethewiser3y ago

Severance is common in high paying tech jobs. Severance is not common in general.

Almost 60% of US workers are hourly and most of them don't get severance. A lot of the other 40% dont either.

https://www.workstream.us/blog/hourly-vs-salaried-jobs-benef...

shubb3y ago

Severance as in a 'voluntary' payment by employers is a US thing that I don't understand. Do you mind explaining why it gets paid at all?

I don't get why employers pay extra money "just to be nice" where there isn't some legal reason to do it...?

ngcc_hk3y ago

Thought there are 0 hour job as well in Uk. But Uk at least have universal health care.

bogomipz3y ago

VWWHFSfQ3y ago

johnvanommen3y ago

I got hired by a place, and my first paycheck bounced.

The owners are now billionaires.

(They sold the company to a Fortune 100 about 18 months later.)

wahnfrieden3y ago

2 more replies

fnimick3y ago

Or worse: they go right up to the edge, convince people to work for back pay for "a month or two", then shut down afterward. I've seen that happen.

wahnfrieden3y ago

revlolz3y ago

j / k navigate · click thread line to collapse