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Twitter Layoff Started Today

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Re: Twitter Layoff Started Today

#41

Post by hughesjj »

throwaway5959 wrote: post #23
onion2k wrote: post #12

Earlier quoted context omitted.

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.

Equity isn’t an emergency fund.

Isn't and Shouldn't are different things. Also, new hires exist. Not everyone has had time to actually accumulate wealth from their compensation. Not everyone was taught financial literacy before being dumped into a high stress job. Not everyone is in good health.

I think sympathy and compassion are fine ideals to hold for any of our working class cohort.

Re: Twitter Layoff Started Today

#42

Post by falcolas »

allarm wrote: post #31
qbasic_forever wrote: post #11

Earlier quoted context omitted.

Now go look at the cost of a home or apartment in San Francisco or nearby towns. I'll wait...

Is SF the only city in the US? What stops them from moving to another part of the country? I moved across the globe, twice for the last 12 months, with my family. It’s definitely doable.

> What stops them from moving to another part of the country?

Cost. Paying early termination on your rental contract. Paying to move. First, last, and a cleaning deposit at your new place. Stocking a new place with perishables. An easy 3+ grand to move to an inexpensive town.

Loss of salary/job opportunities. You won't have the same job opportunities, nor salary ranges, if you live in a less expensive part of the country, since your new pay will be based off your peers in your physical location, not your last salary in SF.

Re: Twitter Layoff Started Today

#43

Post by missedthecue »

qbasic_forever wrote: post #11
schnebbau wrote: post #9

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...

$30,000 a year for an apartment in San Fran. If you can't swing that on your $250k income it's not Twitter's fault

Re: Twitter Layoff Started Today

#45

Post by filoleg »

ghostbrainalpha wrote: post #19

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?

The stock is yours, but while you are still an employee of that company, there are certain windows (usually around quarterly earnings announcement) during which you atent allowed to sell or buy. This is done as a safeguard to prevent insider trading. Once you are no longer an employee of the company, none of those restrictions apply, you are welcome to sell/buy the company stock whenever you want.

Re: Twitter Layoff Started Today

#46

Post by mc32 »

whymauri wrote: post #33
mc32 wrote: post #22

Earlier quoted context omitted.

Quoted post unavailable.

I don't understand the connection between the BA article and Twitter layoffs.

Unreasonable demands and expectation driven by ideology. Severance, yes. But what do they expect beyond reasonable severance? At the salaries these people receive, they should be better prepared for a downturn. Frothy economies don't last. Be the Ant, not the Grasshopper.

Re: Twitter Layoff Started Today

#47

Post by ar_lan »

missedthecue wrote: post #43
qbasic_forever wrote: post #11

Earlier quoted context omitted.

Now go look at the cost of a home or apartment in San Francisco or nearby towns. I'll wait...

$30,000 a year for an apartment in San Fran. If you can't swing that on your $250k income it's not Twitter's fault

$40k is probably a more accurate median. Still, after taxes, that should leave ~$80k money to live on/save beyond rent concerns.

Re: Twitter Layoff Started Today

#48

Post by d23 »

whymauri wrote: post #33
mc32 wrote: post #22

Earlier quoted context omitted.

Quoted post unavailable.

I don't understand the connection between the BA article and Twitter layoffs.

Maybe it's because I just re-watched it, but it reminds me of Walter in The Big Lebowski connecting everything to Vietnam.

Re: Twitter Layoff Started Today

#50

Post by throwaway9870 »

throwaway5959 wrote: post #5
stocknoob wrote: post #2

“ 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?

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.

While saving 6 months might be possible, I would love for you to point me to a high-yield savings account.
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