Link: Here’s what Microsoft is offering long-serving employees to voluntarily retire

Microsoft has announced its first-ever voluntary retirement program, targeting long-serving US employees. The offer is available to employees whose age plus years of service totals 70 or more.

The retirement package includes a lump sum payment, continued healthcare coverage for five years, and additional vesting of stock options. Severance pay varies by job level, with more senior positions receiving more generous payouts.

Eligible employees will get full healthcare coverage subsidized by Microsoft for the first year; however, they must pay a monthly premium for the subsequent four years. Besides, the company extends vesting for unvested stock options by six to twelve months.

About 7 percent of Microsoft's US workforce qualifies for this program, affecting roughly 8,750 employees. They will have 30 days to decide whether to accept the retirement package.

This move will cost Microsoft $900 million this quarter, an amount that represents about a day’s revenue for the company. It’s a significant investment in a program meant to reshape its workforce dynamics.

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Yoooo, this is a quick note on a link that made me go, WTF? Find all past links here.