As of October 24, more than 80% of Silicon Valley’s 150 largest publicly traded companies have employees holding underwater options, according to executive compensation research firm Equilar. CEOs at 90% of those companies also held options worth less than their strike price.
Ordinarily this would represent a greater risk to employees than it does in the current climate. I would be surprised if many employees were looking around for better deals these days. My guess is that most are happy to be working.