Reply to Better.com video to lay off 15 percent of company

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[quote=Anonymous][quote=Anonymous]Can an HR expert chime in as to why this was done before the holidays? No holiday pay? [/quote]

Pretty much when you can people with no notice they usually get two weeks pay since no notice so in payroll 10 more days.

So if can them now assuming twice a month pay the 12-15 paycheck is normal. On 12-31 you give them last few days owed vacation days and severance. Get them off the books by 12-31 so not messing up 2022 budget and can expense severance as a 2021 expense.

Also even though they say cobra who knows what he is covering. It also frees you from laying Xmas, New Years and Martin Luther king day. Also at start up it is option and RSU heavy these folks will lose invested RSUs or options and their 2021 grant.

They also won’t accrue vacation days in 2022. And also stuff like unused sick days and vacation days are a liability in financial statements which won’t be carried to 2022.

What sucks in a start up the pay sucks and stocks and options are a lot of pay. They lost all invested and all of 2022 bonus as most pay annually usually in Feb or March.

Zillow, N26 Bank also fired a bunch recently.

I was at a start up around 12 years ago we fired 10 percent of company Oct 31 and at Xmas party ceo asked us to applaud their sacrifice that will allow us to be profitable and get our full ye bonuses. He at least have than 10/12 of bonus.

Fire in Jan you loose a lot of benefits. [/quote]

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