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Earlier quoted context omitted.
> The money they need pay bills and keep them afloat if and until they get new employment. How will these people that were making well into six figures possibly survive?
Now go look at the cost of a home or apartment in San Francisco or nearby towns. I'll wait...
“ many of these folks won’t be able to sell the shares they earned. The money they need pay bills and keep them afloat if and until they get new employment. When severance ends, that’s it.” It’s Twitter’s responsibility to not only offer severance, but make sure employees keep an emergency fund?
Earlier quoted context omitted.
Seriously. I wouldn’t be surprised if the lowest total comp was in excess of $200k/year. If you can’t have 6 months in cash sitting in a high yield savings account on that, there’s no amount of severance that will help you.
Someone who earned 150k cash and 50k stock might be able to save, but they'd probably just keep their stock as their "emergency fund". Twitter are blocking them selling that stock. Effectively Twitter are laying people off and putting a freeze on their savings account. I think it's reasonable to have a little sympathy for people in that situation.
Could anyone explain to me in simple terms how it's possible to have a blackout on Vested stock? I was under the impression that once I'm "vested" the stock is now mine and I own it like any normal stock. Are "vested" shares something different? Could I say for example sell my shares on Robinhood if the blackout wasn't in effect or are they held by some third party?
However, when someone leaves the company, they can transfer those shares out to their e-trade account or whatnot. I've done that before and it only takes a few days. After that you aren't beholden to stock blackout periods, unless you have Material Non-Public Information, which means you will probably have to figure out if you can sell without being considered insider trading.
Almost no information here or anywhere else. Any other source? What roles? How many? Edit: 30% of its recruiting team: https://www.wsj.com/articles/twitter-lays-off-third-of-talen...
Earlier quoted context omitted.
Seriously. I wouldn’t be surprised if the lowest total comp was in excess of $200k/year. If you can’t have 6 months in cash sitting in a high yield savings account on that, there’s no amount of severance that will help you.
The median home value in SF is ~$1.5 million. A typical mortgage on a home like that is ~$4-5k per month. So you're assuming folks have $25-30k in liquid cash hanging around all the time. Not unrealistic but certainly not everyone working at tech companies there has that kinda cash. And that's before you factor in other costs like property taxes, insurance, etc. that you'll need to cover too.
Earlier quoted context omitted.
Seriously. I wouldn’t be surprised if the lowest total comp was in excess of $200k/year. If you can’t have 6 months in cash sitting in a high yield savings account on that, there’s no amount of severance that will help you.
The median home value in SF is ~$1.5 million. A typical mortgage on a home like that is ~$4-5k per month. So you're assuming folks have $25-30k in liquid cash hanging around all the time. Not unrealistic but certainly not everyone working at tech companies there has that kinda cash. And that's before you factor in other costs like property taxes, insurance, etc. that you'll need to cover too.
Nobody is forcing them to live in SF, especially not Twitter.
Could anyone explain to me in simple terms how it's possible to have a blackout on Vested stock? I was under the impression that once I'm "vested" the stock is now mine and I own it like any normal stock. Are "vested" shares something different? Could I say for example sell my shares on Robinhood if the blackout wasn't in effect or are they held by some third party?