September 25, 2022

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Twitter says employees may only get half of their annual bonus: report

Twitter says employees may only get half of their annual bonus: report

Twitter says the company is dealing with economic uncertainty and that could affect employee bonuses.

Employees were told Friday that they may only receive half of their usual annual bonus, according to the New York Times.

In the last quarter of the company earnings report Revenue declined for the first time since 2020 and the company turned into a net loss.

Twitter is engaged in a legal battle to get Elon Musk to complete the company’s $44 billion purchase.

The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange. (Reuters/Brendan McDermid/Reuters)

Advertisers seem to be taking a wait-and-see attitude due to the uncertainty about it Musk acquisition And the impact on the future of the company.

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Advertising generates most Twitter revenue which was also affected by economic concerns about the war in Ukraine.

Elon Musk wears a jacket with a phone with the Twitter logo behind it

In this photo illustration, Tesla CEO Elon Musk appeared with the Twitter logo on the smartphone screen. (Image illustration by Sheldon Cooper/SOPA Images/LightRocket via Getty Images/Getty Images)

Musk agreed to buy Twitter in April, and has been trying to exit the deal since July.

Twitter wants to force a purchase.

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The case heads to court in October.

In an email to employees, Ned Segal, Twitter’s chief financial officer, said these challenges will likely affect the annual bonuses they receive, with bonuses currently totaling 50 percent of what it would be if the company met its financial goals, according to Two of the employees who received the message.

ribbon protection else they change they change %
TWTR Twitter you. 43.99 +0.13 + 0.30%
TSLA Tesla Corporation 890.00 -18.61 -2.05%

The company ties its annual bonus to its performance against revenue and profitability goals.

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A Twitter spokesperson confirmed the accuracy of the email and declined to comment.