Elon Musk told Twitter employees on Monday morning that, following another recent round of layoffs, those remaining will receive “very significant” performance-based stock awards on March 24, according to an internal memo obtained by The Verge.
“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 wrote in the memo. “Those who remain are highly regarded by those around them.”
The short memo was titled “Performance Awards,” according to The Verge.
Employees are unsure of how Musk will compensate them for their lost stock awards since he took Twitter private, according to The Verge. However, he has referenced using the same system he established at SpaceX to allow employees to sell private stock.
The Verge also reported that Twitter’s internal directory is still offline and that Musk disabled the ability for employees to use Slack along with Google Chat for work emails. This has led to disgruntled employees as well as difficulty obtaining an accurate headcount of them; however, current and former employees estimate there to be below 2,000, according to The Verge. (RELATED: ‘No Choice’: Elon Musk Defends Mass Twitter Layoffs Due To Revenue Loss)
It is not the first time Musk has lamented layoffs at Twitter, as he described the first round of mass layoffs as “incredibly challenging” in November 2022.
Musk’s Twitter is scheduled to become more ostensibly transparent this week; he tweeted on February 21: “Prepare to be disappointed at first when our algorithm is made open source next week, but it will improve rapidly!”
Twitter did not immediately respond to the Daily Caller News Foundation’s request for comment.
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