New Delhi, July 8 -- After announcing on Monday that it would lay off around 4,800 employees (or 2.1% of its global workforce), Microsoft said the affected workers would receive severance packages of up to 39 weeks' base pay, according to a Business Insider report.

Microsoft's severance package varies by employee level, the report stated. Those working at internal levels 64 and below will receive one week of base pay for every six months of service, while those at levels 65 to 67 will receive two weeks of base pay for the same period.

Executives at level 68 and above will have a different compensation plan.

In addition to severance pay, eligible employees at levels 67 and below will continue to receive regular stock vesting for six or ...