Initial speculation was that Twitter’s urgent cuts were due to Elon Musk’s desire not to receive prior period compensation in company stock. Later, the new owner of the business clarified that all due payments would have been made. He stated that Twitter, a private company now, will continue to offer equity stakes to its employees.
CNBC reports that Musk borrowed an identical employee incentive model from SpaceX. He also runs the company. SpaceX has been private for more twenty years, but it regularly trades its shares to allow employees additional income. SpaceX shares rewards are paid twice a year on May 15th and November 15th.
In a letter addressed to Twitter staff, the billionaire promised to reward employees who have shown “exceptional merit” with shares.
At the same time, the billionaire, who advocates “absolute freedom of speech,” does not hesitate to get rid of Twitter employees who publicly criticize his actions, according to Bloomberg. The public has now been made aware of the correspondence between one Twitter engineer and another, who, for eight years, has been creating an Android app. Eric Frohnhoefer was the name of the specialist who tried to communicate to Musk that Twitter was too slow. Musk fired the engineer on Monday. However, the reason for this decision was not revealed.
Ben Leib (a tech guy who has been working with the company for more than ten years) had the temerity of commenting on Elon Musk’s inability to understand certain technical issues. Last Sunday, his new owner also fired him. Former and current employees at the company acknowledge that there was little communication between the new management team and the remaining Twitter team, and that the changes were abrupt and inconsistent. This has led to confusion and miscommunication among staff.