Turmoil in tech industry has driven down stock prices, causing tech workers to lose out on expected payouts in their compensation packages
For years, many tech workers' compensations have been comprised of restricted stock units, which are monetary awards over the course of a few years that are based on the company's stock price value at the time they are awarded. However, recent turmoil in the tech industry has caused tech shares to decline, and as a result, many workers have lost their jobs or seen their expected payouts disappear. Some tech workers have shared their negative experiences with these financial changes, as they no longer have access to these financial awards they were planning to have as part of their earnings.
See "Turmoil in tech industry has driven down stock prices, causing tech workers to lose out on expected payouts in their compensation packages", Rachel Louise Ensign, Wall Street Journal, May 8, 2023