I’d ask in a month. It’s still early since the layoffs. I’d guess that even for people who were laid off first, started looking immediately, and found plenty of hits, few have accepted jobs.
I’m much more curious in 4-5 months. I assume VC funding is harder to get now, for example, but I don’t think that’ll make a massive impact for a little while.
I got connected to someone impacted at Twitter on Saturday, within 24 hours of them being notified they were impacted by the layoff.
I talked with them for an hour that next Monday AM about the opportunities my teams have open, one of which was highly relevant to their skills, and by the time we chatted, they had 3-4 interviews with other companies scheduled. Joined the dots to the hiring manager and recruiters. They introduced us to lots of other Twitter engineers too which was amazing and very helpful to me.
Our interviews happened with them 10 days later and we moved forward to make an offer; we are still working through offer details with them (and they have multiple companies making offers). We’ve also got several strong applicants for this role.
I’m glad to see many of the impacted folks are quickly finding places to land because the cruelty of Twitter’s next chapter under Elon is a stain on the industry and the world.
Curious if you don’t mind sharing, did this candidate have crazy comp due to Twitter RSUs before the implosion? And if so, are you all roughly matching that, or they’re settling for less?
Not particularly crazy. Doesn’t seem like the Total Compensation for this person will change dramatically, although it’s worth nothing that different companies have different philosophies on how the package is structured.
What’s salary, what’s a performance-based annual bonus in cash, what’s equity-based compensation and within that what’s granted upfront and what’s performance-based and granted annually, what’s the signing bonus, etc. Vesting schedules also can differ somewhat dramatically (the Amazon offers as one example are very backloaded), some companies have a history of pricing in assumed growth in equities, there are lots of moving parts (some of which are employee-favorable, like pricing on-hire awards on a Trailing 50d Average; some of which are more employer-favorable like assuming 15% annual appreciation in equity price).
Amazons assumed appreciation scheme is blasphemy IMO - are there even any other companies that do that?
Recently lots of companies have moved to quarterly vesting which is very employee friendly
I’m guessing you’re a startup meaning illiquid options - high risk with a tiny chance of a high reward after its all said and done, and the standard 90 day exercise window upon leaving is very employee unfriendly
Layoff is a layoff regardless of whether you get fired over email, text or a personal call from the CEO saying how great you are. It was the latter for me several years ago and didn't sting any less.
"I've found plenty of hits but haven't accepted an offer yet" seems like a perfectly reasonable response to the question of "how's the job hunt going?"
Sure, but I think the implicit question-behind-the-question-being-asked is "we're hearing about a recession and that the job market is a lot harder than it was, how are you finding it?"
Right, and that seems like a question that can be usefully answered right now by the victims of the early layoffs who might have had time to get a few offers by now. If the responses are all "it's been a month and 90% of the feedback I get is 'sorry we aren't hiring anymore'" then that paints a much more dire picture than "it's been a month and I have 4 viable offers that I need to pick between," both of which are potential responses we could be seeing by now.
I’m much more curious in 4-5 months. I assume VC funding is harder to get now, for example, but I don’t think that’ll make a massive impact for a little while.