The story so far
Visa Layoffs Reaction
Tracked across 2 sources · Updated 2h ago
Following Visa's layoffs, a former employee highlighted the loss of a high-performing manager. Separately, a Bengaluru CEO criticized taxing severance pay, citing lack of unemployment benefits. The incidents sparked discussion about corporate layoff practices in India.
How it unfolded
12h ago
Bengaluru CEO criticizes tax on severance pay
12h ago
Ex-employee reveals manager with outstanding reviews laid off
What happened earlier
Latest updates
Latest
Full story →Bengaluru CEO criticises tax on severance pay after Visa layoffs: ‘No unemployment benefits or income support’
Sanket Sheth, founder and CEO of Kreative Kode, criticized the taxation of severance pay after Visa layoffs in a LinkedIn post.
Sheth noted that salaried employees in India pay taxes monthly but receive no unemployment benefits or income support.
He argued that severance pay, intended to support laid-off employees, is taxed like a bonus at a flat 30%.
He stated that the money from severance is meant for essential expenses like school fees, medicines, EMIs, and groceries, and should not be treated as ordinary income.
The post received widespread support from LinkedIn users in the comments section.
