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Disastrous RSU settlement

Engineer
Current Employee
Has worked at Wish for less than 1 year
February 21, 2021
1.0
Doesn't RecommendNegative OutlookDoesn't Approve of CEO
Pros

Pay is okay, but not top-level among startups.

Cons

The finance team screwed up the RSU settlement, which resulted in tens to hundreds of thousands of dollars in losses for every employee. There was a gap between the settlement date and the sell-to-cover date, during which the stock price dropped a lot. This tanks the company's stock price by more than 30%, causing more stocks to be sold to cover the tax. Employees ended up with one-third of their RSUs left, which is completely unfair.

Finance, equity, and the CFO do not care about this and do not bother to provide public answers to employees. Employees are nothing to them other than labor.

I'm done with this horrible company. Future applicants, good luck.

Advice to Management

Just fire yourself and hire real leaders.

Additional Ratings

Work/Life Balance
1.0
Culture and Values
1.0
Diversity, Equity, and Inclusion
1.0
Career Opportunities
2.0
Compensation and Benefits
3.0
Senior Management
1.0

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