Re:Google Cuts Jobs in Engineering and Other Divisions
by ants_everywhere on Thursday January 11, 2024 @08:21AM
(#38951856)
This is good advice. But it's worth pointing out that by default many of these people are heavily invested in GOOG. And those that aren't are probably heavily invested in market instruments propped up by the GOOG price.
So, mumble mumble, something about diversifying.
I'm sure the layoffs are likely to lead to a short-term bump because the markets will interpret it as Google adulting. But if they're signalling that they're afraid of AI eating their market share, then you probably want to be proactive about that.
Re:Google Cuts Jobs in Engineering and Other Divisions
by scarface_74 on Thursday January 11, 2024 @02:22PM
(#38957409)
If they kept a large chunk of their vested stock in the same company they are working for - or any one company, they are doing it wrong
Re:Google Cuts Jobs in Engineering and Other Divisions
by ants_everywhere on Thursday January 11, 2024 @06:49PM
(#38961349)
Well, yeah I agree. But I think most people do by default. That's really the idea of vesting... to align employee interests with the interests of the company.
Re:Google Cuts Jobs in Engineering and Other Divisions
by scarface_74 on Thursday January 11, 2024 @07:29PM
(#38961759)
At least at Amazon they gave you a choice pre vest between - sell all when they vest, sell enough to pay taxes, and sell none.
I always chose option 1. This is like personal finance 101.
And for the company the purpose of RSUs instead of cash is to not deplete cash reserves.
If you're actually making $1.2 million a year, invest at least $500k/yr.
Then if you need to take a pay cut later, hopefully the dividends from your investment accounts brings your total income close to where it once was.
Also if you're reading this wondering if people actually make this amount of money coding... the answer is no, with the exception of an incredibly small percentage of people. Expecting $800k comp is not realistic for 98% of people.