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Twitter Layoff Started Today

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Re: Twitter Layoff Started Today

#321

Post by HWR_14 »

hn_throwaway_99 wrote: post #254
HWR_14 wrote: post #241

Earlier quoted context omitted.

I mean, Twitter is keeping them from liquidating the shares that they already own and have vested. It's easy to imagine that keeping savings in shares of a company as opposed to cash is reasonable. How screwed would most people be if the stock exchanges all closed down and they were fired?

> I mean, Twitter is keeping them from liquidating the shares that they already own and have vested. That's false, someone commented to that effect in the response thread on LinkedIn. Blackout periods for insider trading reasons can't apply to you if you're no longer with the company and you own the shares. It's possible their broker fucked up and has some snafus, but it is not legally possible for them to prevent yo…

You might say that's not what should be happening, but apparently Charles Schwab is not letting them sell or move their shares. So, maybe CS is fucking up as opposed to a contractual issue, but how does that change things for the employees being denied access to their money?

Re: Twitter Layoff Started Today

#322

Post by mceachen »

rufus_foreman wrote: post #270
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…

>> 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) Well I am old, and I don't remember the time you claim to recall. I've never championed a company brand and I just threw up in…

I'm old too. I don't think we're old _enough_.

According to my grandparents, back in the late 1940s through early 60s, I guess it wasn't rare for people to work at a _single_ company _for the entirety of their career_, fostering bi-directional loyalty.

Re: Twitter Layoff Started Today

#323

Post by solardev »

vorpalhex wrote: post #201
solardev wrote: post #145

Earlier quoted context omitted.

As someone who is financially illiterate, but doesn't have the time or knowhow to separate the good ones from all the spam out there... can you recommend any good courses?

MoneySmart - the official government course that covers the basics: https://www.fdic.gov/resources/consumers/money-smart/teach-m... It's intended to be instructor led but all the resources are available on that page. It is not an overwhelmingly thrilling course but it will get you through the material. The PersonalFinance Wiki for the /r/PersonalFinance subreddit is actually very nice and covers a lot of common situa…

Thank you! These are great resources. I've started skimming through them and will learn more in the weeks to come. Just created my budget for the year, which is a great start, but I have a lot more to learn.

Re: Twitter Layoff Started Today

#324

Post by AlbertCory »

rufus_foreman wrote: post #270
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…

>> 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) Well I am old, and I don't remember the time you claim to recall. I've never championed a company brand and I just threw up in…

My dad worked at a single company for his whole career (45 years).

Nonetheless, when I left my first job, he was supportive. He said "They're not loyal to you, so why should you be loyal to them?"

Re: Twitter Layoff Started Today

#325

Post by marcins »

lbotos wrote: post #196
marcins wrote: post #166

Earlier quoted context omitted.

Does the US not have Mortgage Offset Accounts? An offset account is essentially a normal transaction account tied to your mortgage, but every dollar in the account "offsets" the mortgage balance for daily interest calculations. My "emergency fund" is just in one of my offset accounts, so it's saving me on my mortgage interest.

Sounds like a "home equity line of credit"

It’s not really the same, that sounds like “redraw” here where you put more money into the loan but you can take it out again. Offset has all the benefit (reduced interest payments), with total flexibility. You can clear out your offset accounts anytime without penalty (redraw usually attracts a fee)

Re: Twitter Layoff Started Today

#326

Post by wink »

WalterBright wrote: post #247
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…

> Companies literally escorting laid-off employees out of the building like criminals, on the premise that a suddenly-former employee is an incipient criminal. It doesn't take many incipient criminals to ruin things for everyone. You'd do it to if you've ever had an employee steal or embezzle from you, and it's a lot more common than you might think.

I've still never heard of this here in Germany. Maybe it's because you usually can't fire people valid TODAY, so they still have some runway of around 3 months and then they don't feel like they need to grab stuff and run?

Re: Twitter Layoff Started Today

#327

Post by kamaal »

AlbertCory wrote: post #324
rufus_foreman wrote: post #270

Earlier quoted context omitted.

>> 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) Well I am old, and I don't remember the time you claim to recall. I've never championed a company brand and I just threw up in…

My dad worked at a single company for his whole career (45 years). Nonetheless, when I left my first job, he was supportive. He said "They're not loyal to you, so why should you be loyal to them?"

>>They're not loyal to you, so why should you be loyal to them?

This always comes up in such discussions, but who exactly is They here. Company isn't a conscious entity, its the people. And those people are likely saying the same things about They as you/we are.

The real deal here is we have 100% ownership of any situation in life, and we are not loyal to ourselves, given this obvious fact.

If you have an opportunity significantly better than your current job, you must make the jump. But people often change jobs for petty reasons, which don't give anything much in the longer run. On the other hand, your perfectly good growth at your current place gets interrupted. Heck stability in itself is worth a lot. It helps one focus on relationships, fitness/health, consistent savings and investments, and debt raising for some investments(like buying homes etc).

People keep talking about compounding growth, and yet keep changing their process. In fact its sticking to one thing and doing it right is what causes compounding growth.

Re: Twitter Layoff Started Today

#328

Post by kamaal »

hughesjj wrote: post #41
throwaway5959 wrote: post #23

Earlier quoted context omitted.

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.

>>Not everyone was taught financial literacy before being dumped into a high stress job.

Financial literacy is quite literally adding and subtracting numbers. For somebody who gets in to FAANG sort of companies with mad algorithm skills. This sort of things are a cake walk. Financial Literacy applies to people who just didn't get any education. We are talking of people who can't even read and write.

Re: Twitter Layoff Started Today

#329

Post by madeofpalk »

forgot_old_user wrote: post #142
madeofpalk wrote: post #129

Earlier quoted context omitted.

Seems unwise. You can always be fired or otherwise lose your job.

cant that be said about buying a home anywhere?

Right - it would be unwise to take out a mortgage if you miss one month of income you can't repay.

Re: Twitter Layoff Started Today

#330

Post by trhway »

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?

>“ many of these folks won’t be able to sell the shares they earned.

i don't see any problem here. Just do a short sell. Not being an employee anymore makes you not a subject to the short-selling prohibition for employees, doesn't it? When you get access to your long shares you can close your short simultaneously with selling the same amount of the long.

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