$3.7 mil in severance, 16 employees, so on average (it won’t be average) $231k each to walk away.
If I was rank and file knowing what a bad position we were in, heck yea. In a couple months it might be a fraction of that, considering dwindling funds.
Leaving a healthy amount to go into the senior execs' pockets as consultants as they enjoy the 1 year lump sum payout.