Twitter's employee annual bonus is highly likely going to be slashed by half, the social media giant warns its workforce.
(Photo : OLIVIER DOULIERY/AFP via Getty Images)
In this photo illustration, a phone screen displays the Twitter logo on a Twitter page background, in Washington, DC, on April 26, 2022.
The social network, embroiled in a legal battle versus the mega-billionaire Elon Musk, confirms the bonus cut to its employees this Friday, August 19.
Twitter Employee Annual Bonus Cut
As per a news story by the New York Times, Twitter has bad news for its workforce in its recent internal email.
The social media platform reportedly warned its employees that their upcoming annual bonus might be half of what they are supposed to get.
It comes as Twitter seemingly grapples with the ill effects of the economic turbulence these days, which is also affecting other tech giants.
No less than the Chief Financial Officer (CFO) of Twitter, Ned Segal, penned the email to its workforce, which speaks about the potential bonus cut for 2022.
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Why Twitter is Likely to Slash Annual Bonus by Half
The New York Times reports that two Twitter employees, who reportedly got their hands on the internal email, are saying that the financial performance of the tech is potentially affecting their annual bonus.
Segal reportedly admits in the email that the financial challenges that they are facing could perhaps bring down the annual bonus of its employees by roughly 50%.
But despite that, the email also shed light on the possibility that it would not be slashed by half. The Twitter CFO reportedly says that the bonus pool could still go higher if even its earnings also go up.
It turns out that the annual bonuses for the folks at Twitter are actually based on both the revenue and the profitability objectives of the renowned tech firm.
Meanwhile, according to a recent report by the Wall Street Journal, the social media giant further explained to its workforce that it had "experienced significant challenges" in its earnings since the start of the year.
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This illustration photo taken May 13, 2022, displays Elon Musks Twitter account with a Twitter logo in the background in Los Angeles.
This illustration photo taken May 13, 2022, displays Elon Musks Twitter account with a Twitter logo in the background in Los Angeles.
Apart from the economic difficulties these days, the $44 billion acquisition deal with Tesla Chief Executive Officer (CEO) Musk also brought some uncertainty to the company, WSJ reports.
The New York Times went on to note that a spokesperson from Twitter has already confirmed the bonus cut. However, the spokesman refused to give a word regarding it.
It is worth noting that the social media firm is home to roughly over 7,500 employees, which could potentially be affected by the annual bonus cut.
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Written by Teejay Boris
