"Eligible US employees whose combined years of service and age total 70 or more will receive a voluntary retirement package that includes five years of healthcare coverage, a lump sum cash severance payment, and six months of vesting for unvested stock options."
"The healthcare coverage will be fully subsidized by Microsoft for the first year, but employees opting for retirement will pay a monthly premium for the remaining four years."
"The lump sum cash payment varies by employee level, with mid-senior level employees receiving a week of base pay for every six months of service, while senior positions will receive two weeks for the same duration."
"Around 7 percent of Microsoft's US employees, approximately 8,750 individuals, are eligible for this buyout offer, marking the first voluntary retirement program in the company's history."
Microsoft is introducing a voluntary retirement program for US employees with a combined age and service of 70 or more. Eligible employees will receive five years of healthcare coverage, a lump sum cash severance payment, and six months of vesting for unvested stock options. The healthcare coverage will be fully subsidized for the first year. The severance payment varies by employee level, with specific terms for mid-senior and senior positions. Approximately 8,750 employees are eligible, and Microsoft will incur a $900 million charge for this program.
Read at The Verge
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