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I am one of those let go today. It's especially bad, because they seem to have messed up the invite templates. I received one to the Town Hall meeting, even bef

I am one of those let go today. It's especially bad, because they seem to have messed up the invite templates. I received one to the Town Hall meeting, even before Majus letter was published, only to get the invitation cancelled and receive and invitation to "Bolt Restructuring". What an emotional rollercoaster. Extremely anxious about the future, as this is my first time being laid off, especially in the current market. EDIT: I am doubly screwed because I signed up for the employee stock option loan program... and I'm not sure what the bank will want from me now that the stock price has tanked.

DevToRecruiter 4y ago
I'm sorry you're going through this. I don't know what your position is but I may be able to help you with the "finding a new job" part of your anxiety. Please feel free to reach out to me on twitter @devetorecruiter. Good luck with everything!
- throwaabolt 4y ago
  thank you. can my wife's boyfriend contact you too? he is part of the layoff as well.
  - 1-more 4y ago
    Did you cosign his loans for early exercise too? Brutal. In all seriousness good luck going forward.
  - deleted 4y ago
    [deleted]
  - mizzao 4y ago
    How does this "wife's boyfriend" thing work?
    - t3rabytes 4y ago
      lol the throwaway is 100% a troll, and had it not been for the "i'm a troll" description that was removed from their profile, this is what proves it
    - throwaabolt 4y ago
      We live seprated already and have our own lifes (and boyfriends, at least for her) but the divorce has not been finalized yet and so she technically is still my wife.
  - deleted 4y ago
    [deleted]
nso95 4y ago
best of luck my friend
sibeliuss 4y ago
I'm sorry to hear this. Did they offer severance pay?
stu2b50 4y ago
According to Ryan Brewslow, > There IS risk to the employee; they now have a real loan outstanding and 100% personal recourse, so if the common stock becomes less than exercise price, their personal assets are on the hook So I suppose the bank will be after your personal assets?
- onlyrealcuzzo 4y ago
  It's usually quite rare for startups to offer good equity. HOPEFULLY this loan isn't a lot more than OP's salary. And theoretically, they can be sold for a decent percentage of the principal.
  - ta988 4y ago
    Ain't gonna happen they will be worthless.
    - onlyrealcuzzo 4y ago
      They shouldn't be worthless yet. And OP should be able to sell them.
cr3ative 4y ago
Sorry to hear this, I hope everything works out for you.
respondo2134 4y ago
I work at Bold Commerce and we have some open positions for software devs; take a day or two to process and then take a look. I never realy figured out how so any companies were all going to "own federated checkout" and we are definitely in a different space, though a comparable size to Bolt.
anon_123g987 4y ago
From user throwaabolt's profile page: "troll account. didn't actually get laid off from bold. curious to see how long it takes HN to realize this."
- throwaabolt 4y ago
  ? what?
  - anon_123g987 4y ago
- wly_cdgr 4y ago
  False. Why would you claim this?
  - wly_cdgr 4y ago
  - dang 4y ago
    throwaabolt changed the profile after the GP was posted. We've banned the account now, as well as what looks like their main account.
    - wly_cdgr 4y ago
      Huh! What a weird way to troll
- LilBytes 4y ago
  @dang can we see if this is true, unsure if we record history. Either anon_123g987 or throwaabolt is lying here. throwaabolt's profile account is now: "ex-employee of bolt. ready to tackle new challenges, in particular in the fintech or insurtech areas." I don't know what to believe. throwaabolt's futher messages: "thank you. can my wife's boyfriend contact you too? he is part of the layoff as well."
axg11 4y ago
You would be doing a public good if you post (publicly) the terms of that loan and any associated (anonymous) documents. Please consider it.
dang 4y ago
We've banned this account, and the main account associated with it, for trolling. (Explained in the sibling replies: https://news.ycombinator.com/item?id=31512443 https://news.ycombinator.com/item?id=31512443). Please don't create accounts to do this.

DevToRecruiter 4y ago

I'm sorry you're going through this. I don't know what your position is but I may be able to help you with the "finding a new job" part of your anxiety. Please feel free to reach out to me on twitter @devetorecruiter. Good luck with everything!

throwaabolt 4y ago
thank you. can my wife's boyfriend contact you too? he is part of the layoff as well.
- 1-more 4y ago
  Did you cosign his loans for early exercise too? Brutal. In all seriousness good luck going forward.
- deleted 4y ago
  [deleted]
- mizzao 4y ago
  How does this "wife's boyfriend" thing work?
  - t3rabytes 4y ago
    lol the throwaway is 100% a troll, and had it not been for the "i'm a troll" description that was removed from their profile, this is what proves it
  - throwaabolt 4y ago
    We live seprated already and have our own lifes (and boyfriends, at least for her) but the divorce has not been finalized yet and so she technically is still my wife.
- deleted 4y ago
  [deleted]

nso95 4y ago

best of luck my friend

sibeliuss 4y ago

I'm sorry to hear this. Did they offer severance pay?

stu2b50 4y ago

According to Ryan Brewslow, > There IS risk to the employee; they now have a real loan outstanding and 100% personal recourse, so if the common stock becomes less than exercise price, their personal assets are on the hook So I suppose the bank will be after your personal assets?

onlyrealcuzzo 4y ago
It's usually quite rare for startups to offer good equity. HOPEFULLY this loan isn't a lot more than OP's salary. And theoretically, they can be sold for a decent percentage of the principal.
- ta988 4y ago
  Ain't gonna happen they will be worthless.
  - onlyrealcuzzo 4y ago
    They shouldn't be worthless yet. And OP should be able to sell them.

cr3ative 4y ago

Sorry to hear this, I hope everything works out for you.

respondo2134 4y ago

I work at Bold Commerce and we have some open positions for software devs; take a day or two to process and then take a look. I never realy figured out how so any companies were all going to "own federated checkout" and we are definitely in a different space, though a comparable size to Bolt.

anon_123g987 4y ago

From user throwaabolt's profile page: "troll account. didn't actually get laid off from bold. curious to see how long it takes HN to realize this."

throwaabolt 4y ago
? what?
- anon_123g987 4y ago
wly_cdgr 4y ago
False. Why would you claim this?
- wly_cdgr 4y ago
- dang 4y ago
  throwaabolt changed the profile after the GP was posted. We've banned the account now, as well as what looks like their main account.
  - wly_cdgr 4y ago
    Huh! What a weird way to troll
LilBytes 4y ago
@dang can we see if this is true, unsure if we record history. Either anon_123g987 or throwaabolt is lying here. throwaabolt's profile account is now: "ex-employee of bolt. ready to tackle new challenges, in particular in the fintech or insurtech areas." I don't know what to believe. throwaabolt's futher messages: "thank you. can my wife's boyfriend contact you too? he is part of the layoff as well."

axg11 4y ago

You would be doing a public good if you post (publicly) the terms of that loan and any associated (anonymous) documents. Please consider it.

dang 4y ago

We've banned this account, and the main account associated with it, for trolling. (Explained in the sibling replies: https://news.ycombinator.com/item?id=31512443 https://news.ycombinator.com/item?id=31512443). Please don't create accounts to do this.