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

Beijing time on May 5 morning news, according to reports, because Twitter CEO Elon Musk (Elon Musk) did not fulfill a number of promises, the company's employees are frustrated.

The billionaire, who bought Twitter six months ago, told employees who survived layoffs that they would be rewarded for their "outstanding" performance, including restricted stock awards.

In reality, however, some employees were told they had met Musk's capricious criteria, but still received no rewards. Instead, their benefits are further compressed, and future financial returns are only vaguely promised, and even more work is required.

People familiar with the matter said that due to the shortage of staff and Musk's frequent changing requirements, some employees often work 100 hours a week.

Earlier this year, the company sent "intent to grant" to a number of employees saying it would grant them a certain amount of company stock at fair market value, but did not disclose price information or timing, according to people familiar with the matter. In March, Musk told employees in an email that Twitter was now worth $20 billion, less than half the $44 billion he paid for it last year.

People familiar with the matter said Musk did not share the source of the valuation. Although precise valuations are no longer important, no employee has been awarded shares in Twitter. These employees have only received "grant intentions" so far, and no progress has been made beyond that. As of this week, there was "no transparency" about Twitter's valuation or expected stock pricing.

"We all assumed that these stocks would be worthless. People familiar with the matter said,"they promised that they would be rewarded for fighting for Twitter 2.0, but they didn't live up to their promises." "

Musk and other Twitter representatives have not yet responded to this.

Twitter also recently told employees that the company would no longer give cash bonuses to anyone. While employees were supposed to receive last year's bonuses, Twitter has yet to hand out any, according to people familiar with the matter.

One of the people familiar with the matter expressed his doubts that under Musk's leadership, so-called "excellent" employees would find it difficult to get any rewards for their work, and that "granting intentions" was just a delaying tactic to retain employees. After a series of layoffs and departures, Twitter's total workforce has reportedly shrunk to about 1000.

In addition to the lack of financial incentives, Musk continues to significantly reduce the benefits of Twitter employees. The latest is paid parental leave, which has been reduced from 20 weeks to just two weeks. After more than two weeks, Twitter employees can take unpaid parental leave for the legally mandated period. California, where Twitter is headquartered, entitles workers to 12 weeks of unpaid parental leave.

Employees first learned about the new parental leave policy last month through their supervisors, people familiar with the matter said. They then realized that the company's welfare documents had been modified, but that the change had not been announced internally. People familiar with the matter said the incident caused such panic among employees that Walter Gilbert, Twitter's new head of human resources, briefed staff on the matter. Gilbert jumped to Twitter from Reddit and previously worked for SpaceX, Musk's private rocket company.

But people familiar with the matter believe Gilbert's presentation at the meeting was just an "excuse" because he claimed that the two-week paid parental leave policy was consistent with other Musk companies.

But this is not the case. The latest impact report shows that Tesla employees, Musk's only publicly traded company, can enjoy 16 weeks of paid parental leave. SpaceX is not yet public, so it has not issued an impact report, but it is also said to have paid parental leave of up to four weeks, plus unpaid parental leave required by law.

Musk himself has 10 children, the youngest of whom is named X. People familiar with the matter said X frequently appeared at Twitter's San Francisco headquarters. Ironically, Musk said last year that he intended to improve childcare benefits at all of his companies.

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