Survivors of Twitter’s latest round of employee bloodletting are highly regarded and due to receive “very significant” stock awards, according to an email that all remaining employees received Monday.
The Verge, which was the first to report on the matter and obtained an internal memo concerning the “very significant” stock awards, said that employees could expect to see those “performance-based” awards at the end of March.
According to Musk, these stock awards might be structured similarly to the program he operates at SpaceX where employees are able to sell their shares to institutional investors.
“This past week, we completed a difficult organizational overhaul focused on improving future execution, using as much feedback as we could gather from the entire company,” Musk said in his email. “Those who remain are highly regarded by those around them.”
According to Platformer’s Zoë Schiffer, Musk also “acknowledged that the recent round of layoffs were difficult and said Twitter employees who are still at the company are highly regarded by those around them.”
Over the weekend, Musk eliminated 200 more positions. Those who were shown the door reportedly included some longtime loyalists.
He acknowledged that the recent round of layoffs were difficult and said Twitter employees who are still at the company are highly regarded by those around them.
— Zoë Schiffer (@ZoeSchiffer) February 27, 2023
Current estimates place Twitter’s total employee count around 800-1,200 following the layoffs, but according to reports, Musk hasn’t been clear about the scope of his layoffs, with employees often only learning they’ve been terminated after being locked out of employee accounts.
In one such instance, the founder of Revue, a newsletter service that was acquired by Twitter in 2021, discovered he had been “let go” after waking up to a locked Twitter email account.
“Waking up to find I’ve been locked out of my email,” he tweeted. “Looks like I’m let go. Now my Revue journey is really over.”
Twitter employed roughly 7,500 people when Musk first took the company private.