Here's the severance package Block is offering laid-off US employees
Source: Business Insider ·
Block employees laid off this week are getting 90 days of pay without working, plus severance and three months of healthcare coverage.
From the source
Jack Dorsey, CEO of Block, cited AI during the company's February layoffs. The latest cuts refer to "using better tools."Joe Raedle/Getty ImagesJack Dorsey's Block is making another round of layoffs.The latest severance package offers US workers up to 90 days of pay, plus at least seven weeks' severance.Workers who sign and follow terms of a separation agreement will receive a $5,000 one-time payment.Block employees in the US who were hit in the company's latest round of cuts will receive at least 60 days of pay, plus severance.Those workers are eligible for at least seven weeks of base pay, according to an internal FAQ document viewed by Business Insider, with an additional week of pay for every year an employee worked at Block.The fintech company distributed the document as part of Block's second round of layoffs this year. It told some workers on Wednesday that it was eliminating their roles, according to an email seen by Business Insider. The exact scale of the cuts wasn't…
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