Aman Bhutani, CEO of global web hosting platform GoDaddy, has announced that the company will lay off 8% of its workforce due to increasingly difficult macroeconomic conditions.
Email to the empolyees
In an email to staff members, Bhutani stated that every division and numerous levels of the organisation are affected, with the majority of affected responsibilities being in the US.
"The planned impacts also include ongoing work to more deeply integrate three of our brands, Media Temple, Main Street Hub, and 123 Reg, into GoDaddy," he wrote.
The leadership of the impacted team members invited them to a meeting to discuss the specifics of their transition in accordance with the hiring procedures in their area.
"Media Temple customers and team members are already aware of the transition to GoDaddy infrastructure as we work to sunset the brand, and team members will receive a meeting invite today to explain the path forward for them," Bhutani informed.
Some roles in 123 Reg may not be required longer-term and "we will notify any impacted team members by March 1, 2023".
Compensation for sacked employees
In accordance with regional regulations and conventions, the company is providing the impacted employees with a transition package.
This will consist of 12 weeks of paid administrative leave with ongoing core benefit coverage in the US.
According to the CEO of GoDaddy, leaving team members will also be qualified for extended healthcare benefits, two extra weeks of severance every year worked (with a minimum of four weeks), as well as outplacement and immigration counselling to ease their transition.
According to layoffs, more than 336 major companies have fired more than 1 lakh tech workers in less than two months of the new year.
With inputs from Agencies.
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