This sounds like satire, but I don't think we're far off from major tech companies announcing layoffs alongside new products at keynotes. After all, their purpose is to drive consumer and investor hype.
Someone posted the internal version of it on Reddit. Not all orgs are eligible for VEP. And some are only partially eligible. So the 60,000 number is going to disproportionately hit certain parts of the company.
The interesting question is what it means for the ineligible part of the company. Are they simply going to get another iteration of VEP later, or are they going to be hit by brutal layoffs at some point in the near future?
> 1–2 weeks’ pay per semester of tenure, based on level; six months of fully covered COBRA (remaining 12 months paid by you) and two vesting events in February and May.
> L65-L67 get 4w of pay per year of service, while L64 and below get 2w per year. I’ve been with MS for 10 years, so I qualify for the max payout of 39w.
> Eligibility this time is up to L70, not sure what the package is for L68-70.
"This offer will be available to eligible employees in participating teams in Canada, India, the United Kingdom and the United States at level 70 and below."
it'll be part of their internal pay banding system, so it'll correspond to a certain level of seniority and a pay range. From a quick google L70 is pretty high up, up to maybe a 7 figure salary.
Very few people are level 70. It means VP or Distinguished Engineer. Probably far less than <1% of the company. These people are making over $1m a year most likely, if not more. For Microsoft, that is big money. They don't pay like Meta or the AI labs. We are more comparable in pay to Amazon and other 2nd/3rd tier big tech companies.
Entry-level software engineering positions start at level 59 at Microsoft, with first couple positions taking 2 levels per work title change (59-60 = SE, 60-61 = SE II, 62-63 = Senior SE). Take a look at levels.fyi, that could offer some info / comparison with other companies).
> Introducing a Voluntary Exit Offer
Headline is making me laugh cause it sounds like a press announcement for a new product
"The new Microsoft Voluntary Exit Offer, thinner, and lighter, with 20% slimmer bezels than before"
Our smartest, most capable Exit Offer yet.
And we think you're gonna love it.
_wait_
One more thing: Don't hit the door on your way out!
It could be an enterprise product bundled with some MS365 SKUs. They know a lot of MS customers would need such thing in coming years.
The new Office, 25% slimmer
queue the don draper meme
cue
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"Shareholders will love it! Our company has never told staff to get stuffed better!"
This sounds like satire, but I don't think we're far off from major tech companies announcing layoffs alongside new products at keynotes. After all, their purpose is to drive consumer and investor hype.
Someone posted the internal version of it on Reddit. Not all orgs are eligible for VEP. And some are only partially eligible. So the 60,000 number is going to disproportionately hit certain parts of the company.
The interesting question is what it means for the ineligible part of the company. Are they simply going to get another iteration of VEP later, or are they going to be hit by brutal layoffs at some point in the near future?
What are the terms of the severance? Last time didn't they offer accelerated vesting, etc?
Someone posted the terms on Reddit: https://www.reddit.com/r/microsoft/comments/1xg0c5o/microsof...
> 1–2 weeks’ pay per semester of tenure, based on level; six months of fully covered COBRA (remaining 12 months paid by you) and two vesting events in February and May.
> L65-L67 get 4w of pay per year of service, while L64 and below get 2w per year. I’ve been with MS for 10 years, so I qualify for the max payout of 39w.
> Eligibility this time is up to L70, not sure what the package is for L68-70.
Gotta read the link:
“Eligible employees will receive an email with a link to their Voluntary Exit Offer details within the next few hours.”
I did read the entire article. I was wondering if further information was released or if employees on this post had further details.
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"This offer will be available to eligible employees in participating teams in Canada, India, the United Kingdom and the United States at level 70 and below."
anyone know what level 70 means?
Level 70 for IC devs is a distinguished engineer (at other companies), only one job level is above 70 for ICs.
it'll be part of their internal pay banding system, so it'll correspond to a certain level of seniority and a pay range. From a quick google L70 is pretty high up, up to maybe a 7 figure salary.
In that case, I'm guessing it means that you likely have a contract lawyer or person who negotiates your company exit rather than an impersonal email.
Very few people are level 70. It means VP or Distinguished Engineer. Probably far less than <1% of the company. These people are making over $1m a year most likely, if not more. For Microsoft, that is big money. They don't pay like Meta or the AI labs. We are more comparable in pay to Amazon and other 2nd/3rd tier big tech companies.
I know what you're saying, but I wonder how many people there are even on HN who wouldn't consider US$1M/year to be "big money".
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I'm taking it to mean everyone below (or perhaps even including) VP, because I thought they topped out at 68 for normies.
Leaked Microsoft pay guidelines – salary, hiring bonus, stock awards by level - https://news.ycombinator.com/item?id=37912673 - October 2023 (216 comments)
Entry-level software engineering positions start at level 59 at Microsoft, with first couple positions taking 2 levels per work title change (59-60 = SE, 60-61 = SE II, 62-63 = Senior SE). Take a look at levels.fyi, that could offer some info / comparison with other companies).
The article mentions „ vice president level and below“
levels.fyi