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I was thinking of double time (hence talking about effective comp), I didn't see mentions of salary being cut but mayhaps I just missed it?
by masklinn 4y ago
I was thinking of double time (hence talking about effective comp), I didn't see mentions of salary being cut but mayhaps I just missed it?
- tedunangst 4y agoStock, "$400" lunches, remote option, etc. Everything that's not a paycheck seems slashed.
- masklinn 4y agoGood point, that's definitely a part of comp'.
- andruby 4y agoI think the salary hasn’t been cut, but the value of the stock (options) are probably very different now
- klyrs 4y agoAs I understand it, nobody holds stock anymore, because he took the company private. He bought everybody's shares. So whatever portion of employee's comp was equity, that's now zero. Elsewhere, I saw somebody estimate that to be around half of twitter employees' comp -- I have zero confidence in that estimate, but it doesn't sound unreasonable. And while they might get a lump sum for whatever equity they held, that's money in the bank and no longer a carrot.
- twitter_anon 4y agoExisting equity was converted to cash at $54.20/share, but will still be paid out on the existing vesting schedule. It's a carrot, insofar as it is promised future money, but it's a decaying carrot. Edit: Yes, the proportion of total comp that was equity hit about 50% at L7 (Twitter's Staff). L6 (Twitter's Senior) was usually around 40%.