- cross-posted to:
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- cross-posted to:
- [email protected]
Gotta get creative with your layoffs when you already did massive layoffs but still need to please wall street.
Gotta get creative with your layoffs when you already did massive layoffs but still need to please wall street.
It’s hardly like getting fired is a ticket to a 6 month vacation. Misuse of funds like this is tantamount to theft and probably grounds to disqualify you from unemployment benefits. And anyway for these highly paid workers, unemployment is a tiny fraction of what they are accustomed to making. It’s a tough job market out there and Meta laid off another 9,000 this week so it’s a smart move to start job hunting the second you’re unemployed. I know people who have not found work after 1 year. A vacation? Shyeah no.
Exactly. I lost my job during COVID and fortunately the unemployment office found that my “contract position” was actually an illegal “full-time position” and I qualified for benefits. But the benefits were a fraction of my regular salary, even with the increased COVID-era unemployment benefits. It was enough to live on (I was already frugal), but I was certainly motivated to find new work.
I was “fired” because “my job had been eliminated.” Had I been fired for misconduct, I wouldn’t have gotten any unemployment benefits.
Meta is doing it this way to cut workforce without having to pay severance or unemployment, not because they really care about that $25.
My state would pay them $4400/m for 6 months, assuming they meet the minimum requirements of applying to jobs. And, since it’s a rough market out there, 6 months isn’t really unreasonable.