What would a week be without news about Elon Musk, wouldn’t it? This Monday, the billionaire reportedly sent an email to Twitter employees who “survived” his layoffs just a few days ago in which he announces to workers that this March 24 they will receive shares of the company as a reward, the amount of which will be “very significant”.
“Last week, we completed a difficult organizational review focused on improving future execution, using all the feedback we could gather from across the company,” Twitter’s still-CEO wrote in a document accessed by The Verge. “Those who stay are greatly appreciated by those around them.”
Titled “Performance Rewards”, the internal memo is the first communication from Elon Musk to his employees after the latest series of layoffs and across-the-board cuts at Twitter, a dynamic he carried out since he bought the company, and which has taken down almost the entire product team and even senior managers who were loyal to him.
At the moment, it is unknown how Musk will compensate employees with stock, since Twitter went off the stock market after he bought it late last year. In other memos, Musk alluded to the system he set up at SpaceX to allow employees to regularly sell company stock to interested investors.
So far, Musk has done everything in his power to prevent Twitter employees from knowing the true extent of the cuts that have been made so far. For starters, the company’s internal directory ceased to be operational from the moment he took office. In addition, a few days ago, Musk disabled the company’s Slack and disabled Google chat for employee emails, thus further hindering communication between workers.
After all the layoffs carried out, The Verge’s sources estimate that Twitter would have less than 2,000 workers so far. Before Elon Musk took full control of the company, the workforce consisted of approximately 7,500 employees.