Shulou(Shulou.com)11/24 Report--

According to news in the morning of February 28, Beijing time, Musk told Twitter employees who had not been laid off in an email on Monday that substantial stock and salary rewards would be given on March 24.

Tu Yuan Pixabay email pointed out that the reward is based on performance, but did not provide details. Musk recently laid off his product and engineering team, forcing even some high-profile executives to leave. According to people familiar with the matter, laid-off employees are likely to miss the "Vest Date" in May, when employees will receive a sum of money and the company will cash out the pre-acquisition shares they should have received at a purchase price of $54.20. Twitter has not yet clearly announced its plan, so exactly how to operate it is still unknown.

After several rounds of layoffs, Musk said he thought Twitter's remaining employees were hardcore. Musk did not give a clear plan to make up for the loss of stock by some employees during the privatization of Twitter. SpaceX provides private shares to employees, who can regularly sell and cash out to interested investors. However, given the poor financial situation of Twitter, it is not clear that there will be little interest in Twitter shares in the short term.

Since the acquisition, Mr Musk has promised to offer private stock incentives to employees, similar to the SpaceX model. According to people familiar with the matter, some employees have received news that they will receive shares twice a year and have the opportunity to sell shares at third-party valuations twice a year, but it is not clear whether the plan is company-wide or only for some employees. On February 1, Twitter granted employees some pre-acquisition shares, and then many employees left because of layoffs.

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