Comment on Unpacking Amazon's stealthy mass layoff strategy in Seattle
CubitOom@infosec.pub 9 months ago
Layoffs at a company like Amazon – which has a relatively low cash salary ceiling – is more of a way to steal employee pay, in the way of keeping unvested stocks that were part of a compensation package.
I never liked stocks as part of compensation packages purely from the point you don’t even know if you will actually vest and receive that stock because who knows what will happn in 3-5 years. Let alone what the stock price will be by then.
PizzasDontWearCapes@sh.itjust.works 9 months ago
Don’t the employee options received up to that point continue to vest over time?
NotMyOldRedditName@lemmy.world 9 months ago
I can’t speak to Amazon specifically, but a very common practice is
4 years
After 1 year you get 25%
Every quarter after that you get 6.25% (25% a year)
But you don’t know if you’ll even make it a year in the current environment
chaospatterns@lemmy.world 9 months ago
Amazon corporate employees get RSUs which are stocks, not options. After the new hire RSUs go away, you end up with two vest dates a year and new comp offerings start the following year (so in 2024 you’ll see new money in 2025 plus a small base salary bump that goes in effect that month).
Tech salaries are frequently stock based, but Amazon’s is unusual in that it’s only twice a year, and bumps start the following year, and they recently made the change to do 2 year offers instead of 3 years.