Block offers laid-off US employees up to 90 days of pay, internal FAQ shows
Key points
- At least seven weeks of base pay plus one week per year of service
- Signing a separation agreement adds 30 days of pay, for 90 days total
- Three months of COBRA coverage and a one-time $5,000 transition payment
According to an internal FAQ reviewed by Business Insider, Block is offering laid-off US employees at least seven weeks of base pay plus a week per year of service. Employees who sign a separation agreement receive 30 more days of pay, for 90 days in total. The package also includes three months of COBRA coverage and a one-time $5,000 transition payment. Block has not disclosed how many employees are affected. Some employees were told on Wednesday that their roles were being eliminated.
What employers should do
- Compare the package structure against your own severance policy
Original report: View source ↗Edited with AI assistance. Facts are based on official sources and original reports. For information only; not legal, immigration or insurance advice.