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Eligible employees get one year of full medical, dental, and vision coverage (with an option to extend for four more years if they pay monthly).
Severance depends on your role: midlevel staff receive a week's pay per six months worked; senior employees get double that, both capped at 39 weeks.
Microsoft will take a $900 million hit for this program (about what it makes in a day), and employees have 30 days to decide if they want in.