I checked my Blackberry and noticed a handful of e-mail messages from E-Trade, sent around 12:30am. Each message said that my corporate stock options were scheduled to expire on March 1st, 2009. Given that my first set of options weren’t due to expire until some time in 2013 or 2014, I found that a little odd.
As I rounded up Olivia and wrangled her into the car to head to school, I continued thinking about the e-mail. March 1st was certainly an odd date – doubly odd that all of my option allotments were going to expire at the same time. Must have just been some sort of clerical error.
By the time I got to the office, the significance of March 1st finally dawned on me – it was exactly 3 months from today. At that moment, I recalled something in our employee guide that mentioned that employees had 3 months after the termination of employment to exercise any vested stock options. Uh-oh.
As I made my way to my office, everyone was sort of milling about and gabbing. There was certainly a bit of nervousness in the air.
“Anyone get any e-mail from E-Trade recently?” I inquired.
“No, why.”
“I just got a bunch of messages saying that all of my option grants are about to expire.”
“Dude, shut the hell up. People are nervous enough as it is.”
Allow me to step back into time for a moment. Back in October it was suggested/implied that layoffs might be coming before year-end. Near the end of last week, we got an e-mail mentioning that a senior VP was dropping into the office on Monday (December 1st) and that lunch would be provided.
So I’m sitting at my desk, dig out my laptop and set about getting started for the day. The e-mails continue to worry me, especially since I was the only one to get them. However, I had just received a glowing yearly review and a raise, and I was working on a project a little more closely aligned with head office.
My boss arrived and I went to see him.
“So, is there something that I should know?”
“Uh, no, why?”
“Well, I just got these e-mails from E-Trade about my options expiring on March 1st, which is 3 months from today.”
He shrugged. “I don’t know. I haven’t heard anything. I don’t even know why
Word finally starts circulating that the VP has arrived, but still no one knows what’s going on. Apparently my boss is in to see him.
Some time later, a colleague pokes his head into my office to tell me that our boss was just let go. Well, I guess we know why the VP was here and my boss had no idea what was going on.
A few minutes later, the e-mail prophecy comes true as I get called in to see the VP. The usual customary “you’ve done great work, bad economy, blah blah blah” stuff. I’m handed a couple of boxes so that I can take stuff of immediate importance, but told that I’ll have to make an appointment to come in and get everything else.
Even though I pretty much figured this was coming, it was still a bit of a surprise. I headed back to my desk, packed up a few essentials, and quietly headed out the door and to home.
And, for the first time in 15 years, I’m unemployed.
During the rest of the morning and afternoon, I was in communication with my now former colleagues, who kept me up to date on the carnage. In total, 6 people were let go.
Happy holidays indeed.