• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
NewslettersFortune CHRO

Twitter and Salesforce layoffs offer another glimpse into the wild world of severance packages

By
Amber Burton
Amber Burton
Down Arrow Button Icon
By
Amber Burton
Amber Burton
Down Arrow Button Icon
January 12, 2023, 8:00 AM ET
Two hands exchanging money
Recent tech layoffs offer another behind-the-scenes look at the wild world of severance agreements.Getty Images
Add Fortune on Google for similar content.

Good morning!

If you’ve been trying to keep a running list of the latest tech companies to announce layoffs, you’ve probably given up by now. Or at least slacked off on keeping up with the nitty-gritty details. Never fear; we’ve been keeping track over at Fortune. 

Deciding how to enact layoffs never gets easier in HR, especially when helping former employees with the transition and providing comprehensive severance packages. But recent layoffs offer a rare side-by-side comparison, at scale, of how companies handle such pay benefits. Salesforce and Twitter are the latest tech companies to provide employees with severance, and they provide an instructional look at how to develop and disseminate layoff pay.

Former Twitter employees received their official severance packages on Saturday, two months after layoffs hit the social media company. (Laid-off employees received their regular salaries before the severance offer since the WARN Act requires employers to give a 60-day notice before mass layoffs.) It’s safe to say, the packages fell short of employee expectations and what they were originally told they’d receive. The package provides laid-off U.S. employees with one month of base pay in exchange for signing a non-disparagement clause and agreeing not to take legal action against the company.

In a tweet last November, Elon Musk said affected employees would receive three months of compensation. Former Twitter leadership made similar promises of at least two months of pay, prorated performance bonuses, extended visa support, health care continuation, and the cash value of equity that would vest within three months, according to the Los Angeles Times. 

Salesforce took a more straightforward approach. Affected employees are said to receive about five months of severance pay, as well as health insurance, career resources, and other benefits, according to the company.

Read a full roundup of tech layoffs and severance packages here.

Amber Burton
amber.burton@fortune.com
@amberbburton

Reporter's Notebook

The most compelling data, quotes, and insights from the field.

Despite the fizzling crypto market, the head of Binance, the world’s largest crypto exchange, believes the industry will rise again. (Hey, I'm just the messenger.) CEO Changpeng Zhao says he plans to increase the firm’s headcount by up to 30% from nearly 8,000.

“There’s definitely damage [but] the industry will be fine,” Zhao told CNBC at the Crypto Finance Conference in St. Moritz, Switzerland, on Wednesday. “We will continue to build, and hopefully, we will ramp up again before the next bull market.”

Around the Table

A round-up of the most important HR headlines, studies, podcasts, and long-reads.

- Scammers are preying on recently laid-off tech workers with fake job interviews and offers. Wall Street Journal

- President Biden’s climate change agenda faces a new challenge: There aren’t enough workers to fill jobs. Clean energy companies are offering higher pay and attractive benefits to lure workers to the field. Reuters

- Empty big city offices are becoming emptier due to tech layoffs. Bloomberg

Watercooler

Everything you need to know from Fortune.

BlackRock shock. The world’s biggest asset manager, BlackRock, announced it would cut about 500 employees following major market declines last year. It’s the company's first round of layoffs since 2019. —Silla Brush, Bloomberg

Most likely laid off. Arts, entertainment, and recreation top the list of industries that are most likely to experience layoffs, according to data from the Bureau of Labor Statistics. —Megan Leonhardt

9 to whenever. The U.S. is experiencing a labor shortage, and Americans are working fewer hours. That could force employers to hire more workers to maintain previous productivity levels. —Megan Leonhardt

Perfect storm. Employers mandating a return to the office must prepare for the four horsemen: resistance, attrition, quiet quitting, and a diversity decline. —Gleb Tsipursky

This is the web version of CHRO Daily, a newsletter focusing on helping HR executives navigate the needs of the workplace. Today’s edition was curated by Paolo Confino. Sign up to get it delivered free to your inbox.

About the Author
By Amber Burton
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Newsletters

A test of Anduril's Altius drone.
NewslettersTerm Sheet
Defense tech could be entering its awkward teenage years. Is the boom a bubble?
By Allie GarfinkleJuly 2, 2026
38 minutes ago
The true cost of Donald Trump’s $2.2 billion year
NewslettersCEO Daily
The true cost of Donald Trump’s $2.2 billion year
By Diane BradyJuly 2, 2026
1 hour ago
Meta CEO Mark Zuckerberg (left) and CTO Andrew "Boz" Bosworth in Menlo Park, California, on Wednesday, Sept. 17, 2025. (Photo: David Paul Morris/Bloomberg/Getty Images)
NewslettersFortune Tech
Meta prepares to join the cloud infrastructure fray
By Andrew NuscaJuly 2, 2026
1 hour ago
How foodservice giant Sodexo is embracing AI and robotics to reshape the kitchen
NewslettersCIO Intelligence
How foodservice giant Sodexo is embracing AI and robotics to reshape the kitchen
By John KellJuly 1, 2026
19 hours ago
Exclusive: A VC firm backed by Melinda French Gates just closed a $46 million fund to invest in caregiving
NewslettersMPW Daily
Exclusive: A VC firm backed by Melinda French Gates just closed a $46 million fund to invest in caregiving
By Emma HinchliffeJuly 1, 2026
20 hours ago
The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
NewslettersCEO Daily
The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
1 day ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
1 day ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
23 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.