Last week, Google conducted its largest layoffs in company history. The corporation chose to let go of 12,000 employees all at once, with no notice to the impacted staff. The sacked employees are now referred to as the ‘Golden 12K’ in a new moniker that has emerged in multiple media.
A few users on Blind—a professional community app that verifies its users by official work email IDs—started a conversation regarding the term ‘Golden12K’. Some Google employees explained.
What is Golden 12K?
Sundar Pichai laid off 12,000 Google employees, accounting for about 6% of the overall workforce. Google, on the other hand, made certain that the staff were well compensated. According to some of the Blind responses, the nickname “Golden 12K” was established to describe the substantial severance package granted to Google employees who were laid off.
What is the severance package paid to Google employees who are fired?
A few days after the layoffs were announced, Sundar Pichai released a letter. The Google CEO outlined the severance payout for affected employees in the letter. Here is what the ‘Golden12K’ is being offered:
- Google will pay employees for the duration of the notification period (minimum 60 days).
- Google will also provide a severance compensation that begins at 16 weeks’ salary plus two weeks for each additional year at Google, as well as accelerate at least 16 weeks of GSU vesting.
- Google will provide 2022 bonuses as well as remaining vacation time.
- For those affected, Google will provide six months of healthcare, job placement services, and immigration assistance.
- These benefits have been announced for employees in the United States. Employees based outside of the United States will receive assistance in accordance with local practices.
