Microsoft’s severance package hits up to 39 weeks of base pay, reports say

Included in this promised financial support and resources is a severance package with a minimum of 60 days of base pay, during which employees will remain on the payroll. But based on seniority and tenure, this can get up to a maximum of 39 weeks of base pay for most employees, according to the report.

It noted that employees at internal levels 64 and below will receive one week of base pay per six months of service. Those at levels 65 to 67 will receive two weeks of base pay per six months of service.

Executives at levels 68 and higher have a separate package, according to the report.

Additionally, Microsoft is also offering six months of paid health insurance coverage, as well as an additional 12 months of optional COBRA coverage. Regular stock vesting for six or 12 months will be continuously offered for employees at internal levels 67 and below, based on years of service.

According to Business Insider, the benefits are similar to what Microsoft offered in its Voluntary Retirement Programme, which saw the participation of more than 30% of eligible Microsoft employees.