Twitter Layoff Started Today • Hacker News Board

Re: Twitter Layoff Started Today

#61

Post by commandlinefan » Thu, Jul 07, 2022, 9:22 PM UTC

metadat wrote: post #4

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?

Twitter employees are well-compensated with base salary, and generally highly skilled. They're going to be fine, who wouldn't want to hire ex-twitter? The job market is still hot for techies. The writing has been on the wall since Mollusk started chasing the purchase.

Looks like it was HR/recruiters who were most impacted, though - I imagine Twitter HR folks are well compensated compared to most, but we're not talking about engineering salaries here.

Re: Twitter Layoff Started Today

#62

Post by maerF0x0 » Thu, Jul 07, 2022, 9:23 PM UTC

ar_lan wrote: post #47

missedthecue wrote: post #43

Earlier quoted context omitted.

$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.

40k is accurate if you only need one bedroom. Now try being the breadwinner for 4 people.

Re: Twitter Layoff Started Today

#63

Post by NoraCodes » Thu, Jul 07, 2022, 9:23 PM UTC

mc32 wrote: post #22

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?

Quoted post unavailable.

I'm fairly sure most Soviet thinkers spoke Russian.

Re: Twitter Layoff Started Today

#64

Post by onionisafruit » Thu, Jul 07, 2022, 9:24 PM UTC

redact207 wrote: post #51

dboreham wrote: post #49

Earlier quoted context omitted.

For us old people, what is "talent" ?

"recruitment", since labelling humans as resources is apparently inhumane

I still prefer the old word, "Personnel". I never understood rebranding to Human Resources.

Re: Twitter Layoff Started Today

#65

Post by InTheArena » Thu, Jul 07, 2022, 9:25 PM UTC

schnebbau wrote: post #9

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?

> 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?

People tend to spend money in relativity to what they earn.

https://thehill.com/changing-america/resilience/smart-cities...

The same forces that encourage rampant consumerism in people who can't afford it, do it to people who can afford it - and then suddenly discover that they can't.

Re: Twitter Layoff Started Today

#66

Post by onionisafruit » Thu, Jul 07, 2022, 9:26 PM UTC

d23 wrote: post #48

whymauri wrote: post #33

Earlier quoted context omitted.

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.

Well, there isn't a literal connection, Dude.

Re: Twitter Layoff Started Today

#67

Post by jmathai » Thu, Jul 07, 2022, 9:26 PM UTC

schnebbau wrote: post #21

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...

I guess they'll have to lower their cost of living like the rest of us?

I don't understand the hate towards high cost of living areas. Making a few $100k in a HCOL area is similar to making $100k in a LCOL area. You don't live like a king if both your income AND expenses are higher.

Both people in this example have a lot more in common than I'm reading into from your comments.

Re: Twitter Layoff Started Today

#68

Post by whatgoodisaroad » Thu, Jul 07, 2022, 9:28 PM UTC

My understanding was that this sort of stock sale blackout is typically an internal thing to avoid insider trading liability, but if you've been laid off, you would no longer be internal and therefore no longer subject to the blackout. Is that not how it's structured here?

Re: Twitter Layoff Started Today

#69

Post by rconti » Thu, Jul 07, 2022, 9:28 PM UTC

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...

Diversification?

Re: Twitter Layoff Started Today

#70

Post by onionisafruit » Thu, Jul 07, 2022, 9:28 PM UTC

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?

Last time I was at a company that had blackout periods for employee trading, it didn't apply to former employees. I quit on a Friday and exercised then sold all my options the next Monday while my former coworkers were still in their blackout periods. Hopefully it is the same at Twitter.