>In the US, teammates leaving Patreon will be given three months severance plus an additional two weeks for each half year of tenure beyond the first year.
Pretty decent IMO.
>You’ll also receive COBRA health care coverage through the end of the year.
Odd that that doesn't match the pay period, but oh well.
I suspect its because of the way that COBRA works: COBRA would start for them on October 1st (their active employee insurance would cover them until Sep 30), so they are getting three months. I have never seen a health insurance that supported two week increments, so you couldn't do the 'two weeks for tenure' thing. You could, in theory offer an extra month per year beyond the first, but that's a lot of extra work and expense to go into, offering it, for something that I suspect will have very little pick-up. My guess is most everyone who is laid off today will have a job which will offer insurance by Jan 1st.
In spite of what some developers seem to think job hunting can be a many month process, especially over the holidays and in an environment where many companies are being very cautious about hiring. So no I don’t expect most will have jobs by January.
One thing that is not clear is if they will actually Pay for COBRA or just provide COBRA coverage. Employers can provide the coverage for COBRA but are usually not obligated to pay for it. Also, cost of COBRA out of pocket can go upto 102% of the total premiums (yes the 2% can be admin fee added by the employer if they choose to do so)
Pretty decent IMO.
>You’ll also receive COBRA health care coverage through the end of the year.
Odd that that doesn't match the pay period, but oh well.