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Twitter (TWTR) layoffs have begun, with employees unable to sell vested stock

Employees who've been with the company for over a decade are among those facing layoffs.

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In a post to LinkedIn from Ingrid Johnson, now former Senior Technical Recruiter at Twitter, it was revealed that Twitter has begun laying off employees. As noted by Johnson, some of the people being laid off have been with Twitter for over a decade, with Twitter having previously assured employees that layoffs wouldn’t happen.

Not only is Twitter laying off employees, there’s also a blackout on selling vested stock, a situation that began on May 31 according to Johnson’s post.

© Ingrid Johnson

As Johnson points out, the situation is pretty messed up given these employees still need to be able to pay their bills and keep themselves afloat. Being able to sell vested stock would certainly help, but sadly it sounds like Twitter’s priorities are elsewhere.

Johnson concludes by wishing everyone at Twitter well, and notes that they accepted a new position last week. Comments on Johnson’s post include a number of recruiters remarking that their companies are hiring, so Twitter employees currently facing layoffs may find some good resources in sifting through these comments. Johnson also pointed out that people can reach out if they feel she can refer them to someone in her network.

All in all, the situation sounds like a messy one both layoff wise, and stock wise. It’ll be interesting to see how things develop moving forward, and we hope that those facing layoffs are able to swiftly find new places of employment. Looking for more Twitter news? We also recently covered the reveal of Twitter Notes which let you blog on the platform.

Senior Editor

Morgan is a writer from the frozen wastelands of Maine who enjoys metal music, kpop, horror, and indie games. They're also a Tetris fanatic who's fiercely competitive in games like Tetris 99... and all games in general. But mostly Tetris. You can follow Morgan on Twitter @Author_MShaver.

From The Chatty
    • reply
      July 7, 2022 2:56 PM

      Is it really as hot a mess as it sounds at Twitter these days? The news coming out has a whiff of frantic ass-covering of the kind where an entire company collapses overnight. Surely not.

      Right?

    • reply
      July 7, 2022 3:06 PM

      Can they really stop employees who have been laid off from selling vested stock? If it’s vested the stock is yours, and if you’re not at the company anymore it doesn’t seem they should have any say in what you do with it.

      • reply
        July 7, 2022 3:55 PM

        I'm not an accountant but google says companies can announce blackout periods to restrict trades to prevent people with inside knowledge from trading. It's usually done around earnings announcement periods. Not sure how that would apply to ex-employees though.

      • reply
        July 7, 2022 4:03 PM

        Depends on the agreement language. This is probably just a lock out period that will expire.

      • reply
        July 8, 2022 7:40 AM

        Yes absolutely, I'm sure there are all kinds of legalese that says they can do whatever they want

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