Google has made an error in the calculation of stock severance for laid off staff, according to a report by Business Insider. The tech giant informed its sacked employees on Thursday that its emails had mentioned an incorrect number of stocks as part of the severance package – one of the best in the industry – announced after cutting nearly 12,000 jobs.
A former google employee, who wished to remain anonymous, told Business Insider that the news of receiving 40% less stock than expected was a ‘second kick in the chest’ in a span of three weeks. On January 20, Google had announced its biggest layoffs till date and had sent employees details of their individual severance package. Reportedly, the miscalculation occurred due to double counting of the stock grants. The result: some laid-off employees will receive tens or possibly hundreds of thousands of dollars lesser than initial estimates. Other ex-employees accused the company of causing confusion due to a lack of clarity in the initial emails.
The former member of the engineering team said that although the number of stocks allotted initially seemed a lot, it felt like Google was making an effort to ‘take care’ of the employees, who were dealt a big blow with the job cuts. The search giant is known for its high pay scales and incredible employee benefits. After receiving the rude shock of the stock revision, the ex-Googler said that it changes the planned ‘outlook’ towards approaching the layoff and was a huge concern for stress for the family.
In the latest email, Google People Operations apologised for the inaccurate numbers, stating that although the public information was correct, it didn’t reflect properly in the initial notification. Business Insider also quoted a Google representative, who said that the necessary corrections were made. Laid off workers will continue to be eligible for salary and stock units for both the notice period and the severance payment, 2022 bonus, pending vacation days, six months of healthcare and support in placement and immigration. The severance package included continued salary for a minimum of 16 weeks, plus two additional weeks for each year the person worked at Google.
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