RSUs really gone for good? Did Jacob actually say we’re doing away with them permanently as part of comp? WTF.
If there was ever any doubt ILMN is a coffin, this nails it shut. From here on out you’re expected to take below-market comp for the “privilege” of working in that coffin. The mission is now supposed to replace equity ---- which here is maybe 10% of comp, while at other companies RSUs make up 50–80%.
Looking forward to walking among the living soon.
@39k Did I write this?
Agree with you 100%
I hate to break it to you but you need to realize that, as people, we mean nothing to them. Each of us is a cell on a spreadsheet. If you're in the wrong row, you get let go. Simple as that. I've seen some of the most competent among us be let go. I am at the tail end of my career so I'm keeping my head down, doing my job, and not thinking about whether I matter to this company because I know I don't. And this company, to me, is a means to an end. If I were younger, I would be actively looking to leave. But they have knocked the spirit out of me. Lucky to still have a job at my age. I guess, you could say, I've re-engineered my own expectations of what I can get out of corporate life. The thought that I ever regarded this place as amazing and friendly and someplace I used to love coming to is so foreign to me now. It's sad, but it's reality.
To all the people who left, what companies did you go to? What types of roles? Looking for high comp, good leadership.
@1bj exactly! 20% less work delivered
Please calm down.... we have given up our RSUS so that our leaders can keep their PSUS. We need to trust the leaders, they know what they are doing and that is why they keep getting their payrises and stock awards.
@ws 20% taken away = 20% less work!! What are they thinking???
@OP you thought it was temporary? How did you get that idea?
I left for these exact reasons!
@ws Exactly. The ELT should really be thinking about the impact of removing the RSUs completely. We're seeing a lot of turnover now, with that being the primary motivator to leave. And the way it was done was really disrespectful, which adds to the feeling that the company really doesn't care about you at all. The RSUs being stripped away was announced at a company meeting literally just days prior to the annual RSU grant date, and there's now this re-writing of our "compensation" story, where it used to include RSUs but that's now longer mentioned. And as a sign from management that "we're all in this together", they made the notable sacrifice of foregoing their 2025 annual merit increases, which average around 3%, and their salary is a small part of their overall compensation. It really couldn't have been more insulting.
Funny how cutting the stocks for anyone lower than AD didn't have much of an effect on our financials.
They got us to work for less with no much complaining, so why would they bring them back? Not a hint of a strike, or a protest. This is how soft and fearful we are. We can't even go anywhere else since the biotech market is cratering right now.
This ELT is not there to make this company better, they're there to gnaw as much meat as they possibly can from the carcass that is now ILMN. They'll keep remove benefits, giving themselves bonuses, and then they'll be moving to a new gig once their bellies are full.
@dv no
@dv : I don’t believe they can do that, but you can check on your brokerage account.
I missed part of the meeting. RSUs are gone even for the grants that were already given to employees before? (Not vested yet)
RSU gone….Also for AD and up?
HR lady's response was basically get over it and move on. Nice.
Maybe it was clear, but what was not clear is that this is going to be the policy going forward. DESPITE returning to top growth numbers , the employees get shown the stick. What gives?
@a3 I thought so too, one of the main reasons I left.
A legal ~20% pay cut isn’t something that gave me drive to stay
Wasn't that already clear?