Many large companies have pretty rigid comp review processes and cycles. If you’re a high performing employee who got a stock refresh earlier this year there’s a good chance you’re down 50% or more at many companies. Switch companies and there’s a chance you’ll get a new grant for the original gross value but at the new lower share price.

If your belief that it’s macro trends rather than individual company performance that’s depressing share value it could be a very profitable time to change roles (assuming you can, obviously there’s also an influx of people looking for work in the past few weeks).

Smaller / newer companies with investment money to burn who expect results. Although I can imagine investors are slowing down a bit as well - actually they have done so I believe for the past half decade or so.

I am talking best employees. People who will find good job no matter what. People you need to keep because they are actually the ones who make the show going.

You got hired thinking you will get some amount of money (salary + shares) now those shares are worth little even before they got vested.

So you cut your loss and get hired at some other place that will give you more of your comp in form of salary than shares because you feel burned.

If share value is down everywhere, it’s in many employees’ best interests to reset their grants at another company (at a lower grant price).

A place with more TC in cash.

Does Netflix have 11,000 open positions?

More than Facebook?