Twitter Reduces Employees Annual Bonus in to Half – Shocking Announcement!!! Twitter, the world’s leading social media company has decided to pay only half of its annual bonuses to its employees. That said, Twitter is cutting its usual annual bonus in half because of the company’s uncertain economy. Now Twitter is fighting a legal battle to close its $44 billion sale to Elon Musk.
When the company reported quarterly earnings in the last month, its revenue fell for the first time since 2020 and it posted a net loss. So now Twitter company is losing profit. The world’s richest man, Elon Musk who announced the purchase of Twitter citing this, is trying to get out of the deal. Musk is now set to appear in a trial in Delaware Chancery Court in October over the Twitter acquisition. Advertisers, who now rely on Twitter’s revenue are struggling amid disruptions in the Ukraine war.
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As a result, the company has sent an email to the employees to reduce the bonus into half. In a statement, Twitter’s Chief Financial Officer (CFO) Ned Segal said the number could fluctuate throughout the year based on Twitter’s revenue. The company ties its annual bonus to performance against revenue and profit targets. Due to this, the bonus for the employees may be reduced this time, he added.
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