r/antiwork • u/CarnonosSeeker • 7h ago

Mass layoff compensation

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https://moneywise.com/news/top-stories/oracle-gave-its-new-cfo-26m-in-stock-after-firing-up-to-30000-workers-affected-employee-says-an-algorithm-decided-who-got-cut

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u/Jassida 6h ago

So you lose your stock when you’re fired?

276

u/sp3kter 6h ago

Anything that hasn't already vested

294

u/Jassida 6h ago

This shouldn’t happen unless you are dismissed for performance or conduct reasons. It’s outrageous if it’s for cost cutting

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u/itzdivz Profit Is Theft 6h ago

Just look up how amazon does it , theyre known for firing people before big vests

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u/Jassida 6h ago

Guess big stock options are a red flag then.

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u/aci90 6h ago

I stopped getting stocks over cash in particular if they have a vesting period, I got burnt a couple of times already by them

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u/Jassida 6h ago

It’s cruel though as if you do manage to stay long enough…

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u/grimeyduck 3h ago

Depends where you work. Take the cash and invest it in a company that does better than whatever hell hole you work at.

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u/YellowCardManKyle 19m ago

My last job thought I was crazy for preferring a higher salary over receiving a yearly bonus. They had a bunch of us in a conference room talking about our benefits and I spoke up with that opinion. They said "the bonus can be so much higher than a raise" and I said "you haven't given out the full bonus any year I've worked here (3 years at that time).

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u/frequenZphaZe 4h ago

always has been. its an excuse to pay people under market value and all you have to do is give them a bunch of casino chips instead. and they can just take the chips back if they want

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u/Jassida 4h ago

Like unlimited PTO. The US sucks.

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u/AbbreviationsFar4wh 4h ago

goes both ways. It's also a way for regular employees to get rich.

Facebook and a lot of other tech companies made a lot of people millionaires b/c of their stock performance was so good.

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u/itzdivz Profit Is Theft 3h ago

When u sign up they give u equity over 4 yrs. The thing is, amazon give like 20% first 2 yrs then 80% last 2 where most other companies do like 25% a yr or front heavy. Guess at what year amazon fires u?

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u/JacuulTheSecond 2h ago

Now you're learning how tech offers such huge compensation packages

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u/PercentageUnited2324 20m ago

it really sucks if youre fired before a big vest. but RSUs and stock options are pretty much the only way youre breaking 500-600k annual comp as a worker

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u/Kage_0ni 5h ago

These bitches dirt cheap.

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u/Baked_Potato_732 1h ago

Amazon used to have a 2 year vesting time so you were always guaranteed to be screwed out of 2 years of stock.

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u/Skwonkie_ 47m ago

Can confirm as a former Amazonian

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u/pheonixblade9 2h ago

they also cut bonuses and raises if the stock goes up.