Google apologises after miscalculating severance packages, laid off employees receive fewer stocks

Must read

According to a report by Business Insider, Google has made an error in the calculation of stock severance which was to be received by the laid-off employees. Subsequently, in an email sent on Thursday (February 9) seen by the media outlet, the tech giant apologising to its former employees informed that its earlier email has mentioned an incorrect number of stocks as part of the severance package. This comes weeks after Google announced its decision to cut six per cent of its workforce which amounts to 12,000 jobs. 

After the announcement, the employees were sent details of their individual severance package, while the tech giant had said that it would offer 16 weeks’ salary plus two weeks for every additional year at Google, full salary for their notice period, as well as other benefits. Furthermore, the company also said it would accelerate at least 16 weeks of GSU vesting. Announcing the layoffs, Google CEO, Sundar Pichai, had also said that those affected will receive bonuses and remaining vacation time in addition to six months of healthcare, immigration support, and so on. 

Reportedly, the miscalculation occurred because the company counted the stock grants twice. This led many laid-off employees to receive at least tens of thousands of dollars less than initial estimates while others reportedly accused Google of creating confusion due to the lack of clarity in initial emails. A former employee of the tech giant who found out that they would be receiving at least 40 per cent fewer stocks than expected told Business Insider that it was like a ‘second kick in the stomach’. 

“Admittedly, I had done my own rough calculations. I thought to myself: huh, that number (of stocks) seems pretty high. But then I thought: Maybe this is them saying, ‘Hey, we’re taking care of you because we did a shitty thing to you at the last minute’,” said the ex-employee to the publication. Meanwhile, in its latest email, Google People Operations apologising for the inaccurate numbers said, “The severance package that we explained in the support site, detailed documentation and publicly was correct, but it was inaccurately reflected in the email we sent.” 

You can now write for and be a part of the community. Share your stories and opinions with us here.

Source link

More articles

- Advertisement -


- Advertisement -

Latest article