Microsoft offers voluntary retirement in US for 1st time, $900 million
Business
Microsoft is offering a voluntary retirement option in the US for the first time in its history.
If your age plus years at Microsoft add up to 70 or more, you're eligible.
This covers about 7% of its US team (roughly 8,750 people).
The package includes health care coverage, cash payouts, and stock vesting.
Health coverage, capped severance, 30-day window
Eligible employees get one year of full medical, dental, and vision coverage (with an option to extend for four more years if they pay monthly).
Severance depends on your role: midlevel staff receive a week's pay per six months worked; senior employees get double that, both capped at 39 weeks.
Microsoft will take a $900 million hit for this program (about what it makes in a day), and employees have 30 days to decide if they want in.