Salesforce looks to poach outbound OpenAI staff with "full cash" compensation offer (www.itpro.com)
from L4s@lemmy.world to technology@lemmy.world on 21 Nov 2023 20:00
https://lemmy.world/post/8574521

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.

#technology

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Cheesus@lemmy.world on 21 Nov 2023 20:48 next collapse

Must be great to read if you were one of the employees laid off from these companies.

Corkyskog@sh.itjust.works on 21 Nov 2023 21:14 collapse

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.

Lmaydev@programming.dev on 21 Nov 2023 21:23 collapse

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.

Iwasondigg@lemmy.one on 21 Nov 2023 21:57 collapse

What is “full cash” compensation?

Olap@lemmy.world on 21 Nov 2023 22:00 next collapse

No shares in n years. Cold hard cash. Unusual at mid to high tier level in tech

mosiacmango@lemm.ee on 21 Nov 2023 22:01 next collapse

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.”

dhork@lemmy.world on 21 Nov 2023 22:02 next collapse

I bet they mean that they are offering cash bonuses to sign instead of restricted stock

Ledivin@lemmy.world on 22 Nov 2023 01:19 collapse

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.