GoDaddy CEO Aman Bhutani has announced to lay off 8% of the workforce, the reason being the challenging macroeconomic conditions. This announcement will surely be difficult news for all the GoDaddy-impacted team members.
In a press statement released, CEO informed that every division and numerous levels of organizations are affected with the majority of affected responsibilities being in the US. He also informed me that roles in 123 Reg may not be required for the longer term and the impacted team members will be notified by March 1, 2023.
CEO while expressing his gratitude to those who will be leaving, mentioned that the impacted team members will be receiving a meeting invite from their leadership in which they will learn about the details of their transition, aligned with local employment processes.
“ 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,” said CEO Aman Bhutani in a press statement.
Talking about Media Temple customers, Media Street Hub customers, and their team members he mentioned that they were already aware of the transition to GoDaddy infrastructure, and Media Temple customers along with team members will receive a meeting invite to explain the path forward for them.
Compensation to the employees who will be leaving GoDaddy
In the press, statement CEO mentioned, that the impacted members will
- Offered a transition package, in line with laws and customs.
- In the US this will include 12 weeks of paid administrative leave with continued core benefits coverage.
- Departing team members will be eligible for two additional weeks of severance per year worked ( with a minimum of 4 weeks)
- Extended healthcare benefits
- Outplacement and immigration to support to help with the transition
This is not the first layoff of this year, according to Business Standard in less than two months more than 336 tech companies have laid off more than 1 lakh tech workers.
