Elon Musk cuts employee benefits at Twitter, gets rid of many perks in bid to boost profits – Technology News, Firstpost

In an effort to make Twitter profitable, Elon Musk decided to take several employee benefits and get rid of many of the perks that employees enjoyed at Twitter. It should be noted that since its inception, Twitter has never been profitable.

Elon Musk is cutting employee benefits at Twitter, getting rid of many perks in an effort to boost profits

Employees at Twitter have been informed that they will no longer be entitled to allowances and perks such as training and development, daycare facilities for employee children, and quarterly team activities and amenities for employee well-being and productivity. Image credit: AFP

These perks include many that are not only popular with tech companies around the world, but also some of the key ones that were introduced in the middle of the pandemic to make it easier for Twitter employees to get their duties done.

Among the perks cut include some of the biggest such as perks, training and development, finishing school, day care facilities for employees’ children and quarterly team activities. Other perks like all allowances and activities related to employee health and productivity, internet provision at home, etc.

While getting rid of utilities like home internet makes sense since Twitter is putting an end to the practice of working from home, getting rid of training and development, especially for managers, is a bit odd according to industry insiders.

“The allowances will be reassessed over time and may be added back when the company’s financial condition improves,” read an internal memo circulated to remaining employees.

Musk had previously claimed that it costs Twitter about $4 million per day to feed its 7,400-7,500 employees. However, this claim has been challenged by a number of people working for the company, including the team responsible for meals served to employees at Twitter’s offices.

Since Musk took control of Twitter, he’s managed to fire about half of the 7,500 people who work directly at the social media platform. In addition, it also terminated about 4,000 contract content moderators working for the Twitter account.

In addition to all this, attrition in Twitter Also includes another 1,200-1,500 people who quit after Musk sent an ultimatum.warning employees that the culture at Twitter needs to undergo an overhaul and that employees wanting to be part of the new direction Twitter will be taking, also called Twitter 2.0, should prepare themselves for longer working hours, in a more fast-paced environment.

Elon Musk has since announced it He has finished terminating Twitter employees And willing to hire engineers and sales representatives for advertising sales team. He also encouraged employees to refer the right people for the job.

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