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Comment by codegeek | Hacker News Reader

A blog post was done other than Instagram:

https://blog.patreon.com/a-note-from-jack

"but as the world began recovering from the pandemic and enduring a broader economic slowdown, that plan is no longer the right path forward for Patreon"

So basically, they overhired to meet demands during Pandemic and now as less people are using the platform (??), there is no need for the 17% of people. Interesting.

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> So basically, they overhired to meet demands during Pandemic

Everybody did, even anticipating that the move to online economy would slow down after the pandemic.

But nobody predicted the Ukraine war, sanctions, and the economic effect those sanctions made back in the West.

Lol at that last statement.

What's funny about it?

>In the US, teammates leaving Patreon will be given three months severance plus an additional two weeks for each half year of tenure beyond the first year.

Pretty decent IMO.

>You’ll also receive COBRA health care coverage through the end of the year.

Odd that that doesn't match the pay period, but oh well.

I suspect its because of the way that COBRA works: COBRA would start for them on October 1st (their active employee insurance would cover them until Sep 30), so they are getting three months. I have never seen a health insurance that supported two week increments, so you couldn't do the 'two weeks for tenure' thing. You could, in theory offer an extra month per year beyond the first, but that's a lot of extra work and expense to go into, offering it, for something that I suspect will have very little pick-up. My guess is most everyone who is laid off today will have a job which will offer insurance by Jan 1st.

In spite of what some developers seem to think job hunting can be a many month process, especially over the holidays and in an environment where many companies are being very cautious about hiring. So no I don’t expect most will have jobs by January.

This is close to three months, and many health plans renew at the beginning of each year, which accounts for the slight difference.

One thing that is not clear is if they will actually Pay for COBRA or just provide COBRA coverage. Employers can provide the coverage for COBRA but are usually not obligated to pay for it. Also, cost of COBRA out of pocket can go upto 102% of the total premiums (yes the 2% can be admin fee added by the employer if they choose to do so)

Health insurance is usually done by the month.

Let's change the HN post to link to this, it is much more informative.

Ok, we've changed the URL to that from https://www.instagram.com/p/CidAMM7pQ7u/. Thanks!

Ideally, that’s how it would be described in the internal meeting version.

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