Comment by Sohcahtoa82
15 hours ago
Insanely generous.
I got laid off 3 years ago and got a mere 2 weeks + 1 month of COBRA. It was a tech company, but not a big one.
15 hours ago
Insanely generous.
I got laid off 3 years ago and got a mere 2 weeks + 1 month of COBRA. It was a tech company, but not a big one.
Companies with less than 20 employees aren't federally required to offer COBRA. Companies larger than that are required to offer at least 18 months of coverage. I don't know how large your old company was, but Coinbase is large enough that this offer, rather than being generous, sounds illegal? https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-a...
I think you misunderstood: Coinbase is offering to pay for the first 6 months of COBRA for the laid-off employees. They can still continue with it for the following 12 months if they want, paid out of pocket.
They're offering to subsidize the cost that the individual would normally pay for COBRA coverage. They're only required to offer the coverage, but not to pay for it.
However, I don't think this is that unusual in SV layoff packages.
If so, that's really generous, given the cost of having to pay for COBRA.
Either way, I'd still be shitting my pants. 16 weeks is not a lot of time to find another job in today's environment. I know devs who have been out of work for years and had to resort to stocking shelves at Home Depot to tread water.
3 replies →
i assure you they don't do that to be generous, they do it to get you to sign a piece of paper which reduces their legal risk profile
Yes but ... people will sign that paper for almost any severance. Consider the alternative (don't sign, get a lawyer etc) -- many folks will just sign to get whatever's on offer