Meta asked employees to leave their jobs:Exit package with 80% salary; company will also help with training and starting a business

Facebook and Instagram’s parent company Meta has launched a voluntary exit scheme for its employees. After Google and Microsoft, Meta has also taken this step to reduce its workforce and cut costs. According to a report by the French publication ‘La Lettre’, Meta has offered its employees working in France hefty severance packages if they voluntarily leave their jobs. After laying off thousands of employees in recent months, the company is now giving select employees the option to resign voluntarily. 100 employees could be affected Meta’s France office currently employs around 300 people. According to the report, the voluntary exit programme could affect around one-third of its total workforce there. This means around 100 company employees could leave their jobs under the scheme. However, Meta has not officially disclosed the number of employees affected. It is also not yet clear which departments, teams or job roles have been included in the voluntary exit plan. What is Meta’s voluntary exit plan? French media reports said that Meta’s voluntary exit plan is slightly different from those of Google and Microsoft. The company is relying on a special provision of French labour law called ‘Rupture conventionnelle collective’ (RCC). Under this law, companies negotiate the terms of voluntary departures with trade unions and employee representatives. Once the terms are agreed, employees can voluntarily apply to resign. This process is different from forced redundancies. Interested employees must submit their applications by 5 November. Meta’s hefty severance package Meta is offering its employees one of the most attractive severance packages in the technology industry. Employees who choose to leave the company voluntarily will receive 2.15 months’ salary for every one year of service with the company. For example, if an employee has worked at Meta for five years, they will receive compensation equivalent to 10.75 months’ salary. Employees will be paid 80% of their gross salary during this period. Retraining Alongside Financial Benefits Meta is not only providing financial assistance to its employees but also helping them start new careers. The company will provide employees who resign with professional retraining to learn new skills, as well as guidance and support to help them start new businesses. This is why Meta’s exit package is being considered one of the most generous offers in the technology industry. Google and Microsoft Have Taken the Same Path Amid the global slowdown in the technology sector and the growing focus on AI, several major technology companies are cutting costs.
Before Meta, companies such as Google and Microsoft had also offered voluntary relocation and exit plans to employees in European countries and the US. Meta, too, has laid off thousands of employees in several rounds over the past two years.