It is not just companies going into deep losses that are laying off staff, but even those witnessing growth in business that are downsizing. GoDaddy, the American Internet domain registrar and web-hosting company has decided to go in for a restructuring process, which will affect almost 814 employees, even though it has been witnessing a spike in business of late.
The Company has, however, offered alternative positions within the organisation, to about 40 per cent of those impacted. This also means that the remaining have been offered no other alternative but to leave. A majority of the affected staff members, about 331, have been associated with the Company’s social media sales team in Austin, Texas. The two offices of GoDaddy in Austin will also be closed to avoid the burden of their costs.
However, the Company also assures that once the situation returns to normal, it will restart the hiring process.
The last working day for the employees will be September 1. The concerned employees will be on administrative leave from June 24 to September 1. After that, these employees will receive two weeks of pay for each year of their tenure, with a minimum of four weeks. They will continue to avail healthcare benefits till September 30. With effect from October, the Company will provide elected health coverage, till December, by paying the full premiums for the Consolidated Omnibus Budget Reconciliation Act or COBRA insurance. This insurance helps employees (those who have recently lost their jobs) avoid a gap in health coverage.