1. How Tech Severance Works
Here is how it works: base pay is only part of the equation. Standard tech severance involves weeks per year of service, healthcare COBRA stipends, and RSU vesting cliffs.
Base Pay Calculations
Typically 2-4 weeks per year of service for big tech.
RSU Acceleration
Often, unvested equity is accelerated to the next cliff date.
2. The Taxation Trap
But here is the problem: lump-sum severance is taxed aggressively at source.
Withholding Tax Rates
Amounts over $15,000 face immediate 30% withholding.
RRSP Rollovers
Using a Retiring Allowance transfer can shield this money.
3. Negotiation Leverage
This might work for you: you can often negotiate the non-compete clauses tied to the severance.
The WARN Act
Understand the 60-day notice minimums for massive layoffs.