With layoff starting, this should come as no suprise.
This is a chart of pain for laid-off tech workers. Most only have a short 90-day window to exercise their options — though a handful of employers have extended the time frame, Emily writes.
- And because they need money, some wind up selling those shares for far less than they’d hoped — and less than they might be worth if and when the market recovers.
“The desperation seller is starting to hit the market,” says Greg Martin, cofounder Rainmaker Securities. “The ability to hang on to price starts to fade when your options expire next week.” Workers at crypto companies are even worse off. “Demand for anything that touches crypto is almost nonexistent right now,” Rainmaker cofounder Glen Anderson adds.
Axios Markets By Emily Peck and Matt Phillips · Dec 08, 2022