- cross-posted to:
- technology@lemmit.online
- cross-posted to:
- technology@lemmit.online
Salesforce looks to poach outbound OpenAI staff with “full cash” compensation offer::Salesforce CEO Marc Benioff has revealed the firm will offer positions to outgoing OpenAI employees amidst a looming exodus from the beleaguered tech giant.
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Must be great to read if you were one of the employees laid off from these companies.
It’s one company and AFAIK only one person was fired… and he already accepted an offer at MS. The rest are just bailing with him.
Cloud-based software company Salesforce is preparing to bring aboard 3,300 people across its various departments following a 10% jobs cut earlier this year.
I think this is likely what they are referring to. They gutted their staff earlier in the year.
What is “full cash” compensation?
No shares in n years. Cold hard cash. Unusual at mid to high tier level in tech
No stock/bonus/etc. Basically no contingent salary, just flat out “you made 700k total if you add salary and bonus/stock? Your base salary is 700k.”
Cash is king, so they are competing with Microsoft already offering these folks identical compensation to leave by saying “us too, but better.”
Most tech compensation is stock - nobody in the industry ever asks about salary, they ask about total comp. A full-cash offer means their salary is massive instead of split between salary and stock.
A full-cash value is almost always a way better deal. There are obviously exceptions where the stock skyrocketed, but that is not particularly common.
I bet they mean that they are offering cash bonuses to sign instead of restricted stock
