[gruez]

>HOLY CRAP. How is this even legal???

You missed the tweet directly under it:

> Therefore, we made sure to give every employee ample time to read about the pros and cons of this decision, including learning about all the risks in the business, and we gave every employee a $300 stipend to consult a financial advisor during the implementation process.

I understand making things illegal to protect people from being swindled because they don't know any better, but if you made decision even after consulting a financial advisor that's on you.

[nrmitchi]

It’s kind of different when that decision is saying to your boss “Naww, I don’t think I’m going to take the offer that the CEO was bragging about on Twitter. I guess I just don’t believe in the company enough.”

It may not be perfectly valid, but it’s very easy to see how someone could feel like they didn’t really have a choice if they didn’t want to sabotage their position and future at the company.

[hamburglar]

That’s quite a stretch. They set up a plan you’d have to opt into. They don’t stand around waiting for a rationale from everyone who didn’t take them up on it. You still have your options so you’re not telegraphing a lack of faith in the company. It’s absurd to think management is going, “gee, Joe didn’t take this potentially risky option after the consultation. He’s not a team player.”

[tekknik]

That is not at all a stretch and is slightly offensive that you used the word “stretch” here given what that word is supposed to mean. This is a perfectly valid concern where many people will be pressured into complying.

[hamburglar]

Except if you don’t take the loan, you are still betting big on the company by staying around for stock options. There is zero reason to think this shows lack of faith in the company. This is on the level of thinking you’re going to get fired if you don’t buy a red BMW because all the execs have red BMWs and got a local dealer to offer a good deal to all the employees.

[cbm-vic-20]

Hopefully their $300 financial advisor said "this is a bad idea".

[snotrockets]

$300 won't cover the cost for a qualified advisor. Even if you'd get a tax professional to make the math for you for that money (the one I use charges $350 for a phone call, ymmv), getting a lawyer to go over the terms of the loan would be $1000 at minimum.

[ta988]

That's when you start an informal union with your colleagues, pool the $300 and get a real advice.

[snotrockets]

Better yet, start a formal union, and hold managment accountable for such sh*t.

[rrix2]

i guess they probably doled it out as "file an expense report" stipend rather than cash or some voucher, that could lead to some awkward conversations w/ management...

[nr2x]

Hey now, you can get somebody to do anything for $300 on Craigslist. You just need a fairly flexible definition of “qualified”.