Per last job report in US, there were two positions for every person finding normal jobs. For IT, I would think that ratio is twice. However, the biggest issue that people have to deal with: (1) Meta paid 2X to 4X higher than regular employers so that’s massive pay cuts for the folks, (2) they lost the unvested stock aka their hold out compensation of past 4 years they worked for.
So, this would be huge financial setback for impacted people akin to losing half of their wealth and cutting down their future income as well in half.
I think the parent comment is talking about your general 5-year vesting schedule. In other words, for each of the past 4 years you worked, you will have some unvested stock today.
Meta does pay higher (maybe not 2x higher) and the message in OP says employees will get their November 2022 vesting, which implies they won't get any future vested stock.
Yes, which is what the GP post said, they lose their unvested stock. By future vested I meant, stock that will vest after they are laid off. Could've been clearer I guess.
So, this would be huge financial setback for impacted people akin to losing half of their wealth and cutting down their future income as well in half.