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Twitter Layoff Started Today

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Re: Twitter Layoff Started Today

#281

Post by UncleEntity »

manyfriends wrote: post #244
ChrisLomont wrote: post #220

Earlier quoted context omitted.

>even I remember a time when companies, at least in principle, would invest in their employees (via stable employment, regular raises, mutual trust) in return for employees investing in the companies (innovation, extra effort, dedication, championing the company brand). Has there ever been really any difference? I know rose colored glasses make people think times past were better in many cases, but I find no evidence…

> Unions often drive out workers at the benefit of those getting union jobs, lowering employment. For example, see [5] and similar papers. This seems a bit misleading from the article you referenced: “The researchers find that, for both men and women, more union involvement in wage setting significantly decreases the employment rate of young and older individuals relative to the prime-aged group (with no significant…

> Lower employment for the very young and very old is generally a good thing in places with a robust welfare state…

Exactly, I can’t think of any country who has had problems with the majority of the 18-24 year olds not being able to find meaningful employment.

Well…except for every single country where this has been the case.

It’s not like they will be sitting around with no job prospects looking at the immigrant groups getting jobs (because they have no other choice but to work) and become susceptible to some right/left wing extremist groups or anything like that.

Re: Twitter Layoff Started Today

#282

Post by thrown321 »

filoleg wrote: post #45
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.

That only applies to higher management, who would know of impending layoffs.

Re: Twitter Layoff Started Today

#283

Post by whateveracct »

dunkelheit wrote: post #277
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?

One problem is that companies like to talk about these stock grants as if they are as good as regular salary (and employees seem to play along, using terms like "total comp" and ascribing some definite dollar value to it). But they really aren't. So it is a bit of a deceptive marketing.

Always try to use your "total comp" to anchor your salary at a new job. It works when the new employer isn't public and doesn't offer liquid RSUs etc.

Going from X "total comp" to X salary is an improvement in itself. Not even to mention how that total comp is often bumped by once-yearly vests/bonuses - spreading it as salary means you get it asap and can walk more easily.

I did it earlier this year..and the public company I left tanked next quarterly earnings report. Luckily I converted that to guaranteed salary (which is now gonna hopefully anchor me for the next gig lol)

Re: Twitter Layoff Started Today

#284

Post by abeppu »

thrown321 wrote: post #250
abeppu wrote: post #236

Earlier quoted context omitted.

In the same spirit of "we can actually look at this stuff", I have to point out that: - I think in general _recruiters_ are not on H1Bs. And even for jobs held by people who _are_ on H1Bs, that can be a biased data source for salaries. - And sure enough of the info for twitter H1Bs, I see no recruiters. Plenty of engineers, a bunch of data scientists, some managers and directors, but no recruiters. https://h1bdata.in…

Lots of HR roles in there which is usually where recruiters are positioned. Unless you are saying all twitter recruiters on payroll are US citizens or permanent residents. Be sure to search all years.

Even selecting all years, I see no evidence of Twitter having H1B recruiters, and I don't think this is surprising. Companies are prepared to go through the process (and can make a credible claim of needing it) only for some roles.

Re: Twitter Layoff Started Today

#286

Post by mhio »

gwerbret wrote: post #200

> So- in addition to losing their jobs, which Twitter assured employees would not happen I'm not that old, but even I remember a time when companies, at least in principle, would invest in their employees (via stable employment, regular raises, mutual trust) in return for employees investing in the companies (innovation, extra effort, dedication, championing the company brand). Today, we have this: - Companies using…

#4 "escorting out" is usually a result of applying #1, #2, #3 and #5 to a person and realising the affect those actions might have on them, just more good business sense!

Re: Twitter Layoff Started Today

#287

Post by sershe »

thrown321 wrote: post #272
sershe wrote: post #269

Fwiw, as far as stock sales being blocked. You can probably easily bypass that if you prepare in advance. There exists a standard stock transfer mechanism, ACATS, for basically "wiring" your stocks to a different brokerage. I think these transfers are also legally mandated to some extent. My previous company partnered with ETrade, giving us a special account for stock awards. The main special thing about it were insa…

I thought etrade had given up commissions and instead just front runs the trades..

That was several years ago. Also I think even the advertised commissions on ETrade were relatively low then too, only the stock award plan account had the ridiculous ones, hence me transfering the stock out.

Re: Twitter Layoff Started Today

#288

Post by onionisafruit »

sokoloff wrote: post #158
onionisafruit wrote: post #70

Earlier quoted context omitted.

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.

The blackout policies are a tiny part an employer policy and a large part an anti-insider trading policy. If you learned of what might be material, non-public information while an employee, then got fired/laid off/quit, that only puts you in the clear with respect to the employer's policy (what are they going to do? fire you a second time?) but does not put you in the clear with the SEC.

I agree. I’ve rarely had any insight into finances, so that wasn’t an issue for me. I keep my head down and write code.

Re: Twitter Layoff Started Today

#289

Post by fleddr »

bombcar wrote: post #263
fleddr wrote: post #187

Earlier quoted context omitted.

I'm stunned really. I'm from the Netherlands, known for its comparatively poor pay for engineers as well as high costs of living. Despite that, from day 1, when my salary was at its lowest and I was still single, I saved 25% of my salary. A lot of years later and no longer single, I've build up multiple years in savings. Even more than that if I add my spouse. And the funny thing is that the need to do this applies l…

The key is that you started saving from the beginning. This informs all your future purchases and helps you maintain it going forward. Many who get a high-paying job at the beginning spend to the limit of their income and then some. Very sad.

True, and the other discipline is that at one point I settled on a lifestyle and never upped it again, despite a growing income. So the savings rate itself also increases over time.

Re: Twitter Layoff Started Today

#290

Post by rayiner »

walrusfromspace wrote: post #259
rayiner wrote: post #219

Earlier quoted context omitted.

> Anyone who relies on wage labor for their income (as opposed to earnings from capital) is working class. Since when is that the definition? Doctors and lawyers have never been considered part of the "working class." Software engineers, and other categories of jobs that didn't really exist in the 1930s, are more similar to those professionals than to working class people. > People love to erode class solidarity by c…

>Since when is that the definition? That's the Marxist definition of the Working Class[0], although nowadays some Marxists would programmers, lawyers etc. "Professional Managerial Class" to distinguish them from the workerist idea of the Working Class. [0] https://en.wikipedia.org/wiki/Working_class#Marxist_definiti...

Marx was writing in the very specific context of then-emerging industrial factory production. In Marx's dichotomy, there's workers and those that "own the means of production." That dichotomy makes no sense as applied to what we would call today knowledge workers, and it's probably a misreading of Marx to apply his terminology to them.

In Marx's dichotomy, ownership of the means of production is critical because workers are utterly dependent on that capital to be able to produce anything. That's not true of knowledge workers. A programmer, like a doctor or a lawyer, isn't dependent on a capital owner to produce the thing they sell.

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