Meta Joins Google & Microsoft With Voluntary Exit Plan; Offers Staff Up To 2.15 Months' Salary Per Year Of Service
Meta is negotiating a voluntary exit scheme for employees in France, joining Microsoft and Google in using buyouts to trim headcount. What Meta is offering According to La Lettre, staff who opt to leave would receive severance of 2.15 months' salary for every year of service. The package also includes up to ten months of paid mobility leave at 80 percent of gross salary. Further support for…
Meta, along with tech giants Google and Microsoft, is exploring a voluntary exit plan for French employees, following suit in reducing workforce numbers. According to sources, eligible staff members would be entitled to severance pay amounting to 2.15 months' salary for each year of service. This package also encompasses up to ten months of paid mobility leave, equating to 80% of their gross salary.
Additionally, discussions are underway regarding retraining opportunities or assistance in starting a new business venture. These terms, however, remain contingent upon a finalized agreement.
The voluntary exit scheme is being implemented through France's collective termination conventionnelle (RCC) process, as opposed to individual employee decisions. Initial negotiations commenced in July, differing from previous arrangements where acceptance was voluntary on a case-by-case basis. The program could potentially encompass approximately 100 employees at Meta's French operations, which currently employ around 300 people.
Notably, Meta employed a comparable approach in France during the previous year, when 88 employees opted to leave.
Meta's initiative follows a similar move by Microsoft and Google. On October 26, Microsoft extended a voluntary exit offer to approximately 60,000 eligible employees across the US, India, the UK, and Canada, representing more than a quarter of its workforce numbering 223,000. The company anticipates that fewer than 3,000 employees will accept the offer, with a decision window extending until early December.
Meanwhile, Google has been offering voluntary exit packages since June to select staff members in Canada, France, Germany, Japan, and Switzerland, with accepting employees in Switzerland receiving a maximum of 12 months' salary.
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