4 ms·

Possibly is a result of the SEC rules regarding insider information - not sure a company as big as MSFT or AMZN can give a heads up to 'insiders' before investo

by ejb999 4y ago

Possibly is a result of the SEC rules regarding insider information - not sure a company as big as MSFT or AMZN can give a heads up to 'insiders' before investors for something that may materially affect the company - and big layoffs definitely qualify as impactful - for better or worse. ...and because the huge companies are so closely followed on wall street and financial news, once news is released to the media - they are going to run with it as soon as they get it - not wait until employees get notified first.

fshbbdssbbgdd 4y ago
Grandparent said that not only was the layoff unmentioned before it happened (pretty common) but also not discussed afterward (not normal).
mensetmanusman 4y ago
The ‘Insider information’ framework needs to be updated for the modern world. Hedge funds tracking parking lots with low orbit satellites have more insider information than any official channel. Even tweeting information to the whole world simultaneously can breach II rules when it doesn’t really apply since it automatically puts everyone on more equal footing.
- cwzwarich 4y ago
  > Hedge funds tracking parking lots with low orbit satellites have more insider information than any official channel. That's not an example of an insider abusing their inside position for their benefit, it's an example of a hedge fund deciding that investing in low-orbit satellite photography gives them an edge in estimating market movement.
  - sozin 4y ago
    Exactly right, thank you for saying this. I will never forget back in the 00s, when electronic market makers were squeezing out floor traders and the pits were closing down, an outraged floor trader exclaimed to me: “They’re using .. COMPUTERS! To trade!”, in a tone that suggested how grossly unfair and (in the spirit of many a hacker news comment) how insider-trader-y it was.
wnolens 4y ago
Every employee is an investor too. It could be orchestrated within reason, or at least attempted. But what I'm talking about is there were layoffs in the news and not a single peep about it in my email inbox or slack channel, nor even during 1:1 with my direct manager later that week. Ok so it breaks to the news first, it seems common courtesy for the person managing your career path to check your pulse.
- inglor 4y ago
  It is, but in Microsoft we are in the same boat (zero communication)
- persedes 4y ago
  TIL teams at Microsoft use slack and not MS teams.
lr1970 4y ago
> Possibly is a result of the SEC rules regarding insider information SEC insider information laws were the same during the DotCom boom/bust of 2000. Yet firing practices were quite different despite the fact that employees also had stock options/shares like they have now.

by ejb999 4y ago

fshbbdssbbgdd 4y ago

Grandparent said that not only was the layoff unmentioned before it happened (pretty common) but also not discussed afterward (not normal).

mensetmanusman 4y ago

The ‘Insider information’ framework needs to be updated for the modern world. Hedge funds tracking parking lots with low orbit satellites have more insider information than any official channel. Even tweeting information to the whole world simultaneously can breach II rules when it doesn’t really apply since it automatically puts everyone on more equal footing.

cwzwarich 4y ago
> Hedge funds tracking parking lots with low orbit satellites have more insider information than any official channel. That's not an example of an insider abusing their inside position for their benefit, it's an example of a hedge fund deciding that investing in low-orbit satellite photography gives them an edge in estimating market movement.
- sozin 4y ago
  Exactly right, thank you for saying this. I will never forget back in the 00s, when electronic market makers were squeezing out floor traders and the pits were closing down, an outraged floor trader exclaimed to me: “They’re using .. COMPUTERS! To trade!”, in a tone that suggested how grossly unfair and (in the spirit of many a hacker news comment) how insider-trader-y it was.

wnolens 4y ago

Every employee is an investor too. It could be orchestrated within reason, or at least attempted. But what I'm talking about is there were layoffs in the news and not a single peep about it in my email inbox or slack channel, nor even during 1:1 with my direct manager later that week. Ok so it breaks to the news first, it seems common courtesy for the person managing your career path to check your pulse.

inglor 4y ago
It is, but in Microsoft we are in the same boat (zero communication)
persedes 4y ago
TIL teams at Microsoft use slack and not MS teams.

lr1970 4y ago

> Possibly is a result of the SEC rules regarding insider information SEC insider information laws were the same during the DotCom boom/bust of 2000. Yet firing practices were quite different despite the fact that employees also had stock options/shares like they have now.