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Wednesday, February 28, 2024

Elon Musk says Twitter staff will obtain ‘very vital’ inventory awards on March twenty fourth

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Elon Musk emailed his remaining staff at Twitter on Monday morning to inform them that, after one other spherical of sudden layoffs over the weekend, those that are left will obtain “very vital” performance-based inventory awards on March twenty fourth, based on an inner memo obtained by The Verge.

“This previous week, we accomplished a tough organizational overhaul targeted on bettering future execution, utilizing as a lot suggestions as we might collect from the whole firm,” Musk wrote, confirming that he has kept laying employees off after telling them he would cease on November 21st. “Those that stay are extremely regarded by these round them.”

The brief memo, titled “Efficiency Awards,” is Musk’s first communication to Twitter staff since he laid off a whole bunch extra of them with out warning over the weekend, together with a number of senior leaders and almost all the product crew. (Platformer’s Zoë Schiffer first tweeted concerning the memo on Monday.) Staff have been at the hours of darkness about precisely how Musk will compensate them for the inventory awards they misplaced after he took Twitter non-public. In earlier emails to them, he has alluded to the system he arrange at SpaceX to let staff frequently promote non-public inventory.

Musk has made it exhausting for even these remaining to know the complete scope of his cuts. The corporate’s inner listing stays offline and Musk shut down the power for workers to use the company’s Slack last week. He then additionally disabled Google Chat for work emails, which continues to be turned off as of press time. Present and former staff I’ve spoken to estimate that Twitter’s whole headcount is nicely beneath 2,000 now versus the roughly 7,500 staff there when Musk took over.

This story is growing.

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