Some Meta Employees Embroiled In Dispute Over Severance Package Promised By Mark Zuckerberg




 
  • A group of Meta Platforms, Inc (NASDAQ: META) workers who joined via a corporate training program alleged inferior severance packages compared to other workers whom the company recently laid off.

  • The employees were members of Meta's Sourcer Development Program, likely to help workers from diverse backgrounds obtain careers in corporate technology recruiting, CNBC reports.

  • Nearly every member of Meta's Sourcer Development Program, more than 60 workers, was let go from the company as part of its massive layoff of more than 11,000 workers in November.

  • Also Read: WhatsApp On Brink Of Monetization, Mark Zuckerberg Says, Offers More Clarity On Metaverse Expenditure

  • Meta's Sourcer Development Program members joined Meta in April, and Meta categorized them as short-term employees. After completing the 12-month program, the employees became eligible for full-time employment.

  • Meta CEO Mark Zuckerberg said the company would pay severance of 16 weeks of base pay plus two additional weeks for every year of service, with no cap.

  • Zuckerberg added that Meta would cover the cost of healthcare for people and their families for six months.

  • But Meta's Sourcer Development Program members said they only received eight weeks of base pay and three months of COBRA despite being full-time employees.

  • On November 16, the impacted workers sent a letter to Zuckerberg and other Meta executives, informing Meta management about their situation and seeking a resolution.

  • Meta is yet to respond to their letter but sent some members gift packages to congratulate them for completing the Sourcer Development Program.

  • Price Action: META shares traded lower by 0.35% at $122 in the premarket on the last check Tuesday.

  • Facebook Ads Draws Class Action For Algorithmic Gender Bias

  • YouTube, TikTok Scored Over Facebook In Tackling Politically Violent Content, Study Says

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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