Block’s 4,000-Job Layoff Comes With Notable Severance
Block is cutting about 4,000 jobs (roughly half its workforce) but is offering a relatively generous severance package: 20 weeks of base salary plus one additional week per year of service, six months of health insurance, a $5,000 stipend, and the option to keep a company device, with equity vesting through the end of May. Experts say the package is generous, and the piece compares Block’s terms to other tech giants’ severance—from Amazon and Meta to Airbnb, Google, Microsoft, and Twitter/X—which use a range of structures including extended pay, health coverage, and stock vesting provisions.
