Elon Musk reduces employee benefits at Twitter and eliminates several perks in order to increase profits2 min read
Elon Musk has decided to change several employee benefits and eliminate several perks that Twitter employees had grown accustomed to in order to turn the company profitable. It should be noted that Twitter has never been profitable since its inception.
These perks include not only several benefits that are common in tech companies around the world but also some key benefits that were implemented in the midst of the pandemic to help Twitter employees complete their duties.
Some of the most significant perks cut include training and development, finishing school, daycare facilities for staff children, and quarterly team activities. Other benefits include all allowances and activities related to employee wellness and productivity, as well as home internet access.
While getting rid of facilities like home internet makes sense given that Twitter is putting a stop to the practice of working from home, industry insiders say getting rid of training and development, especially for managers, is a little strange.
“Allowances will be re-evaluated over time and may be reinstated if the company’s financial situation improves,” read an internal memo distributed to the remaining employees.
Musk previously claimed that Twitter’s 7400-7500 employees were fed for $4 million per day. However, a number of company employees, including the team in charge of the meals served to employees at Twitter offices, disputed that claim.
Since assuming control of Twitter, Musk has fired roughly half of the 7500 people directly employed by the social media platform. In addition, he fired approximately 4000 contractual content moderators who worked for Twitter.
In addition, another 1200-1500 people resigned from Twitter after Musk issued an ultimatum, warning employees that the culture at Twitter would have to undergo a massive overhaul and that employees who wanted to be a part of the new direction that Twitter would take, also known as Twitter 2.0, should prepare themselves for longer working hours and a more fast-paced, hardcore environment.
Elon Musk has since announced that he has finished firing Twitter employees and is now looking for engineers and salespeople for the ad sales team. He has also encouraged employees to refer people who are qualified for the position.
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