00:00From what I have seen, it is probably the best or the gold standard of what you should do in
00:05a layoff.
00:05Every employee gets health care for a year, six months severance.
00:09They get to keep their company laptop, so they have something to search for jobs on.
00:12The most striking was that you can apply for a grant for $10,000 if you have an idea
00:17or want to be an entrepreneur and start your own business or want to take something forward.
00:20Put the can, for example, next to Microsoft, which 10 days earlier had offered buyouts to 60,000 people,
00:27which is about 27% of its workforce. That's pretty significant.
00:31The U.S. minimum at Microsoft for severance is eight weeks compared to Canva's minimum of 26 weeks.
00:37What does that tell us?
00:39The U.S. does not offer any severance packages required by federal law.
00:44So you can be laid off in the U.S. and not get anything.
00:47Whereas in Australia, there is a minimum, and I think it depends on your years of service,
00:51but you at least have some protections there that you have to give severance.
