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Twitter – Elon Musk promises to give performance-based stock awards

Twitter - HR Talk

After Elon Musk has taken over Twitter a lot of significant changes started to turmoil the whole work of the Twitter office.

But now there is finally some good news for the remaining Twitter employees who have successfully passed the layoff session.

As per a report, Musk emailed employees by saying that those who have not been axed now will be receiving ‘very significant’ performance-based stock awards by the end of this month.

Earlier this month, Musk fired 200 employees including Twitter’s Head of product Esther Crawford.

Further Musk wrote in an internal memo called Performance Awards that “This past week, we completed a difficult organisational overhaul focused on improving future execution, using as much feedback as we could gather from the entire company, those who remain are highly regarded by those around them.”

It can be said that this was the first direct communication Musk initiated with its employees.

However, Musk is yet to disclose the exact details of the performance-based stock awards of the employees and more importantly it’s still not clear who will be given the performance-based awards.

Here is a complete list of changes happening on Twitter, after Musk has taken over the firm:

Musk first fired top leaders from the firm like CEO Parag Aggarwal, CFO Ned Segal, and policy head Vijaya Gadde. Besides, the other following top leaders resigned from the organisation on their own.

On Oct 30, Musk changed the Twitter homepage and urged Twitter users to choose a version of Twitter they would like to prefer.

On Nov 1, the firm started taking some other crucial decisions like Twitter cutting 25% of the workforce and implementing the blue tick verification for $8.

Further on Nov 3, Musk asked to stop offering add-free articles to all the blue subscription users.

On Nov 4, Musk ended WFH and asked all the employees to work from the office regularly.

Recently Twitter fired 200 employees last weekend. As per the report, the job cuts took place Saturday night and impacted product managers, data scientists, and engineers who worked on machine learning and site reliability.

Further, as per the report, these laid-off employees were the 8th round that happened in the organisation after Musk has taken over the firm.

The firm eliminated 50 jobs across engineering teams, including those supporting advertising technology, the main Twitter app, and the technical infrastructure to keep its systems up and running, per the report.

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