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Spotify promises that employees who are affected by the layoffs will get “generous severance packages, including extended Healthcare coverage and immediate access to outplacement support.”
The company said these job losses will impact “all areas” of the company and will lead to extra charges of around $15m due to severance pay and outplacement services, according to an SEC filing.
Source: https://www.siliconrepublic.com/business/virgin-orbit-job-cuts-satellites-funding