Elon Musk promises 'very significant' Twitter stock awards for remaining employees after latest round of layoffs, report says
Twitter employees received an email from CEO Elon Musk on Monday, announcing that they can expect substantialThe Twitter stock compensation is due on March 24, the Verge reported, citing a memo titled"Performance Awards.", the third since Musk's takeover in October. Twitter now has fewer than 2,000 employees, compared to the estimated 7,500 employed before the company changed hands.
"This past week, we completed a difficult organizational overhaul focused on improving future execution," he wrote,."Those who remain are highly regarded by those around them." After he took the company private in the fall, Musk reassured employees that they could still expect Twitter stock rewards as part of theirThe system would be similar to that of SpaceX — his privately held rocket and satellite company — where employees are rewarded stocks in May and November and allowed to sell them whenever it conducts secondary offerings to raise fresh funding.
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