Twitter Employees May Get Only 50% Of Their Annual Bonuses Amid Downturn: Report

Twitter has recently informed its employees that they would be receiving only half of their annual bonuses amid economic uncertainty plaguing the company as per media reports.

Twitter is currently fighting a legal battle with Tesla chief Elon Musk who had shown intent to buy the company for $44 billion a few months back.

On the decision to trim employees‘ bonus payout, the company shot off an email in which it blamed financial pressure for the move, the New York Times reported. 

Last month, the microblogging platform reported a decline in its revenue for the first time since 2020. The company reported second-quarter revenue of $1.18 billion, compared with $1.19 billion a year earlier.

In the email to employees, Twitter CFO Ned Segal said that the financial chal-lenges would affect the annual bonuses they receive, with the bonus currently at 50 percent of what it could be if the company met its financial targets.

Tesla boss Musk had offered to buy Twitter earlier this year, but backed out claiming that the social media platform was unable to share data on ‘spam bots’ and fake accounts. Twitter sued him to force to complete the acquisition.

Recently, Musk challenged Twitter CEO Parag Agrawal to a public debate over the long-discussed spam bots issue.

"Let him prove...that Twitter has <5% fake or spam daily users," Musk tweeted. He also started a poll asking users whether less than 5% of Twitter's daily users are fake or spam.

Musk also fired a salvo at Twitter with regard to scrapping his buyout deal with the company and said the social media platform did not disclose that it had filed for "risky" litigation against the Indian government, thereby "placing its third-largest market at risk".

He added that Twitter must follow the laws in India. Meanwhile, Twitter replied that it has challenged certain blocking orders by the Indian government.

Twitter dismissed Musk’s that he was hoodwinked into signing the deal to buy the social media company, saying that it was "implausible and contrary to fact".