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☆ A product manager who worked at Meta and Google reveals which company is best for work-life balance
▼ + stars: | 2024-05-05 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +11 min

A Meta product manager who also worked at Google in a similar role revealed some differences between the tech companies based on his experiences over the past six years. AdvertisementCompany transparencyMeta does maintain some of the transparency the company was known for in its earlier days, McKinnon wrote. At Meta, McKinnon was aware of what other teams were working on, partly through the company's internal forums and dashboards. At Google, employees mostly communicate through email or chat, so it's more difficult to know what everyone is doing, McKinnon wrote. At Google, McKinnon saw that projects were largely created and led by software engineers, and PMs played a more auxiliary role.

Persons: —, Daniel McKinnon, Ray, McKinnon, Googlers, Meta's, Mark Zuckerberg, Sundar, Alphabet's, Sundar Pichai wasn't, Zuckerberg, Meta, VPs, Susan Li Organizations: Meta, Google, Service, Unit, Business, Facebook, . Software Engineers Locations: Meta

☆ I went from making $15K to nearly $700K over my career at Oracle, Apple, and Meta. Here's how I increased my total compensation.
▼ + stars: | 2024-04-09 | by ( Robin Madell | ) www.businessinsider.com time to read: +13 min

My salary journey in Big Tech has seen my total compensation — which includes base salary, bonuses, and stocks — increase from $15,000 in 2012 to $685,000 in 2024. I'm a staff software engineer and have worked at three different tech companies, moving from Oracle to Apple to Meta. In California, labor laws make it illegal for employers to ask you about your current salary and salary history. That could involve switching from a non-tech job to a tech job or taking a short-term hit for long-term gain. Unless the employer offers a significant pay bump along the way, total compensation usually takes a drop after this vesting period.

Persons: Sandeep Rao, —, I'm, I've, it's, Glassdoor, haven't, Jane Zhang Organizations: Meta, Apple, Oracle, Service, Business, Big Tech, Microsoft, Carnegie Mellon University, Grad, Employers, Carnegie Mellon Locations: San Jose , California, India, Pittsburgh, Cupertino , California, Menlo Park , California, California, janezhang@businessinsider.com

☆ Trump Media payday: What Truth Social executives got paid in stock and compensation
▼ + stars: | 2024-04-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +12 min

Those thresholds for the share price are well below where Trump Media stock was trading on Monday, when it closed at $37.17, down more than 8%. The filing disclosed that Trump Media awarded company stock to Nunes, chief financial officer Phillip Juhan, and chief operating officer Andrew Northwall. The three top executives, like Trump himself, are currently barred from selling any of their common stock in Trump Media for the next six months. CNBC asked a spokeswoman for Trump Media why promissory notes were used to grant stock to the executives. Legal battlesBesides Trump, the biggest shareholders in Trump Media are two corporate entities.

Persons: Dado Ruvic, Donald Trump, Devin Nunes, Trump, Kevin Murphy, Murphy, Nunes, Phillip Juhan, Andrew Northwall, Juhan, Northwall, DWAC, we've, Tom Williams, Kash Patel, Patel, Dan Scavino, Scavino, Department of Defense Kash Patel, Justin Sullivan, Sandro De Moraes, Vladimir Novachki, Scott Glabe, Novachki, Glabe, De Moraes, Eric Swider, beneficially, Renatus, Swider, Andy Litinsky, Wes Moss, Moss, Patrick Orlando, Mike Pont Organizations: Trump Media, Trump . Trump Media, Nasdaq, Corp, Trump, University of Southern, Securities and Exchange Commission, DWAC, SEC, CNBC, Partners, Northwall, Juhan, Trump Media's, U.S, Capitol, CQ, Inc, Getty, Equity, Messrs, Republican, Hudson Digital, Trump White House, Staff, Department of Defense, Digital, Renatus, ARC Global, United Atlantic Ventures, Twitter, Facebook, NBC, FilmMagic Locations: Juhan, California, Minden, Minden , Nevada, Orlando, New York City

☆ Reddit CEO Steve Huffman defends his $193 million compensation package
▼ + stars: | 2024-03-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Reddit CEO Steve Huffman discussed his compensation package in a video Q&A posted on the forum. The CEO's $193 million pay package includes a mix of salary and stock. AdvertisementReddit CEO Steve Huffman has received backlash over his $193 million compensation. Related storiesThe bulk of his compensation package is now in restricted stock units and stock options. Huffman's chances of getting even richerBack at Reddit, it's unlikely that Huffman will get $193 million in compensation.

Persons: Steve Huffman, —, Huffman, there's, That's, Reddit, Mark Zuckerberg, Zuckerberg, Elon Organizations: Service, SEC, Zuckerberg, Elon, Meta, Tesla Locations: Reddit, Delaware

☆ TikTok has a rule that strips workers of their stock if they ever bad-mouth the company: report
▼ + stars: | 2024-03-11 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Restricted stock unit holders could lose their shares for disparaging TikTok, Fortune reports. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The agreement bans RSU holders from making "critical, adverse, or disparaging" comments about the company, its affiliates, or employees. This story is available exclusively to Business Insider subscribers.

Persons: TikTok, — Organizations: Service, Business

☆ Okta announces it's laying off about 7% of its workforce
▼ + stars: | 2024-02-01 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The ID verification company told Business Insider it was a "necessary" decision to ensure profitable growth. CEO Todd McKinnon told employees in a memo sent at 5:30 PT that the company is laying off about 400 employees. If your role is impacted, your leadership will schedule a meeting today to discuss next steps. To the impacted employees, I am deeply sorry and we thank you for your many contributions. As we navigate these changes, remember that Okta is critical infrastructure for 18,800 organizations around the world.

Persons: Todd McKinnon, McKinnon, we've, Todd Organizations: Business, Okta Locations: U.S

☆ TikTok parent ByteDance offers share buyback valuing the Chinese giant at $268 billion
▼ + stars: | 2023-12-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

There is no timeline for the completion of the share repurchases, but ByteDance has asked shareholders if they'd like to sign up to the program, the person said. ByteDance is offering shareholders $160 per share, which values the firm at around $268 billion, the person said. ByteDance, which was founded in 2012, has been tipped to go public for the last few years, but has faced an increasing number of headwinds. ByteDance is also cutting hundreds of jobs from its gaming division, where the company has aggressively expanded without success. The firm has been hit by a slowing Chinese economy and by stricter domestic regulation in the internet sector.

Persons: ByteDance Organizations: CNBC Locations: U.S

In an email to staff reviewed by Reuters, Cruise CEO Kyle Vogt also said the firm would make a new tender offer to allow employees to sell shares, just two days after cancelling an earlier offer. "As CEO, I take responsibility for the situation Cruise is in today. Vogt also noted that the company's approach to working with regulators, press and the public "must improve." Cancelling the program helped to cut costs for GM after it had to pause Cruise operations. Cruise has said it showed officials of the California DMV the complete video of the accident multiple times and provided a copy to officials.

Persons: Heather Somerville, Cruise, Kyle Vogt, Vogt, We've, Greg Bensinger, Hyunjoo Jin, David Shepardson, Cynthia Osterman, Tom Hogue Organizations: General Motors Corp, REUTERS, General Motors, Reuters, Cruise, Cruisers, GM, California Department of Motor Vehicles, California DMV, Thomson Locations: San Francisco, California, U.S, United States, Washington

☆ TikTok owner ByteDance offers employees buyback option at higher price to boost confidence
▼ + stars: | 2023-11-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Chinese technology giant ByteDance is offering to buy back stock options from employees at a higher price than earlier this year, in a bid to boost motivation and inject confidence among employees after a challenging year. RSUs or options are an instrument employees can purchase, which convert into actual shares if the company goes public or gets acquired. A ByteDance spokesperson confirmed the plan to CNBC and said the company aims to provide liquidity of its RSUs and options to motivate employees through buyback programs. ByteDance is not public. It is also a way for early employees who may have purchased stock options at a cheaper price to make some return on their investment.

Persons: Shou Zi Chew, ByteDance Organizations: Wednesday, CNBC, ByteDance, TikTok Locations: U.S

☆ Internal documents reveal new details of X stock awards to staff, including what happens if the company IPOs or is acquired
▼ + stars: | 2023-10-31 | by ( Kali Hays | ) www.businessinsider.com time to read: +13 min

The documents reveal the latest estimated valuation of X, when and how staff are getting equity awards, and how that stock vests over time. X stock doesn't trade daily like a public company, so the valuation disclosed is by definition vague. Most people who received X equity were granted 1,200 units, or increments thereof based on performance, according to one of the documents viewed by Insider. Any X Stock Awards you receive under the X Equity Plan will be provided to you in addition to and separate from any deferred cash awards. Stock Awards are typically earned over four years, with a 6 month cliff.

Persons: they'll, Elon Musk, Fortune, X, virality, Musk, there's, Will, Jan Organizations: Twitter, Musk's, SpaceX, X, Inc, Common, New York Stock Exchange, NASDAQ, IRS, Internal Revenue Locations: United States, Shareworks

☆ Read the Q&A guideline Amazon shares with managers on how to answer pay-related questions from employees
▼ + stars: | 2023-04-18 | by ( Eugene Kim | ) www.businessinsider.com time to read: +23 min

To prepare managers to discuss pay with employees, Amazon shares a lengthy Q&A guideline that addresses some of the most pressing questions, according to internal documents obtained by Insider. This includes base pay, variable pay, other cash, and equity in the form of Restricted Stock Units (RSUs) or stock. A: We plan employee's total compensation in outlook years. Q: Why am I positioned at XX in my pay range and how can I increase my pay? Clearly and directly explain the reason there was no base pay increase:"Employee A, you are at the base pay max."

☆ Leaked Amazon memo shows plans to reduce employee stock awards in 2025
▼ + stars: | 2023-04-06 | by ( Asia Martin | ) www.businessinsider.com time to read: +4 min

Leaked Amazon memo shows plans to reduce employee stock awards in 2025. The company is considering increasing the cash portion of compensation to help cushion employees against its stock price going down in the future. In other news:The late Cash App founder Bob Lee. Cash App creator Bob Lee died after a reported stabbing in San Francisco Tuesday. Silicon Valley is grieving the loss of the founder of Cash App and the former chief technology officer at Square.

☆ Amazon plans to trim employee stock awards amid tough economy
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

April 5 (Reuters) - Amazon.com Inc (AMZN.O) said it would reduce employee stock awards, a part of its compensation plan, as the e-commerce giant navigates an uncertain economy. "We made the decision to reduce RSU (restricted stock units) awards in the final outlook year by a small amount (other years are not impacted)," an Amazon spokesperson said in an emailed statement, without specifying the period of the final outlook year. Business Insider had first reported the planned change in the company's pay structure and said Amazon would reevaluate 2025 compensation in the first quarter of next year to "plan for stock variation". Amazon's shares have gained more than 20% this year, following a near 50% tumble in 2022. Reporting by Arunima Kumar in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Leaked memo says Amazon plans to reduce employee stock awards in 2025, signaling a potentially major shift in its approach to compensation
▼ + stars: | 2023-04-05 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Amazon told managers that it has decided to reduce the number of stock awards for employees in 2025. Amazon employees have been asking for a higher cash base pay, as its stock price dropped recently. A possibility, not a definite planIn an email to Insider, Amazon spokesperson August Aldebot-Green confirmed the accuracy of the memo. Amazon has historically offered less base cash pay compared to some of its peers. In the employee compensation statement, Amazon continues to bake in a 15% assumed stock price increase for 2024 and 2025.

☆ Meta is lowering bonus payouts for some employees and reverting to twice-a-year performance reviews
▼ + stars: | 2023-03-28 | by ( Kali Hays | Britney Nguyen | ) www.businessinsider.com time to read: +3 min

Meta is dropping bonus pay for lower-performing employees. "This is a hunger games situation," a current Meta employee told Insider. "If you survive layoffs, you'll be straight into performance review in June," the employee said. Although Meta has long had bi-annual performance reviews, the company memo as reported by WSJ said the upcoming review in June is "a calibrated performance signal for fairness." Are you a Meta employee or someone else with insight to share?

☆ Here are the layoff severance packages Google, Microsoft, Amazon and other tech giants have promised
▼ + stars: | 2023-01-20 | by ( Rohan Goswami | ) www.cnbc.com time to read: +5 min

Laid-off employees would also have "at least" 16 weeks of share vesting accelerated, Pichai said in a memo to employees. Benefit-eligible U.S. employees are to receive severance, six months of healthcare and stock vesting, and 60 days of notice, Nadella wrote. Human resources head Beth Galetti said the company will offer a separation payment, health benefits as applicable by country and job placement. This matters to Amazon employees, as the company's compensation has historically been weighted heavily to stock. Benioff's letter to employees also said that laid-off employees would receive health insurance benefits and career resources for an unclear duration.

☆ Read the memo Mark Zuckerberg sent to employees announcing Meta's plans to lay off more than 11,000 people
▼ + stars: | 2022-11-09 | by ( Kate Duffy | ) www.businessinsider.com time to read: +9 min

Mark Zuckerberg sent a memo to employees on Wednesday announcing mass layoffs at Meta. Meta employees have been expecting widespread layoffs for months as CEO Mark Zuckerberg's focus on creating the metaverse has proven extremely costly and slow, Insider previously reported. Read below the full note that Zuckerberg sent to Meta staff:Today I'm sharing some of the most difficult changes we've made in Meta's history. I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We would not be where we are today without your hard work, and I'm grateful for your contributions.

☆ Meta laying off more than 11,000 employees
▼ + stars: | 2022-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +11 min

Meta is laying off 13% of its staff, or more than 11,000 employees, CEO Mark Zuckerberg said in a letter to employees Wednesday. "I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. Impacted employees will receive 16 weeks of pay plus two additional weeks for every year of service, Zuckerberg said. This hefty bet has cost Meta $9.4 billion so far in 2022, and the company anticipates that losses "will grow significantly year-over-year." I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go.

☆ Stripe plans to lay off 14% of workers
▼ + stars: | 2022-11-03 | by ( Annie Palmer | ) www.cnbc.com time to read: +11 min

Online payments giant Stripe plans to lay off roughly 14% of its staff, CEO Patrick Collison wrote in a memo to staff Thursday. Here's Collison's full memo:Earlier today, Stripe CEO Patrick Collison sent the following note to Stripe employees. We will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. We'll accelerate everyone who has already reached their one-year vesting cliff to the February 2023 vesting date (or longer, depending on departure date). We'll cover career support, and do our best to connect departing employees with other companies.

☆ Leaked internal survey shows Amazon asked engineers about their pay for the first time this year. The results were surprising.
▼ + stars: | 2022-10-11 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Almost a third of the tech employees expressed dissatisfaction over compensation. The results were also slightly worse than Google's, where 53% expressed pay satisfaction versus 27% unhappy and 20% neutral, as Insider previously reported. Amazon shared some parts of the survey last week in a public blog, but not the results related to pay satisfaction. Other survey results included 22% of the respondents expressing frustration over "bug fixes" that "always interrupt their work," according to Amazon's blog post. Others called for a more streamlined process so "builders can spend more time on innovation," the blog said, a growing complaint among Amazon engineers, as Insider previously reported.

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