Light Reading’s new work poll has only been up a few days and already 247 people have responded with some interesting results. This month’s poll takes another look at Option Plans. Specifically, it reviews how employees perceive stock options in the optical networking industry in light of the recent market malaise.

Thirty-eight percent of those taking the poll say they believe their options are now worthless. When asked if they would take a pay cut in exchange for more options, 29 percent say they would reject the idea. Thirty-eight percent of the respondents said the largest pay cut they would consider in exchange for options was in the 5 to 10 percent range.

This may come as bit of a shocker to Redback Networks Inc.’s (Nasdaq: RBAK) new CEO, Kevin DeNuccio, who has proposed that his employees take as much as a 25 percent cut in salary in exchange for more company stock options (see DeNuccio Joins Redback). Redback’s stock has fallen from a high of $132 a year ago to under $5 today.

Still, some respondents are optimistic that the market will turn around. Twenty-nine percent say that stock options are an important attraction to their job.

— Marguerite Reardon, Senior Editor, Light Reading
http://www.lightreading.com