To turn Twitter profitable, Elon Musk has decided to offer several team member benefits and eliminate several perks that employees at Twitter had come to enjoy. It should be noted that since its inception, Twitter has never been profitable.
These perks include several of the benefits that are not only common in tech companies across the world but also some key benefits that were introduced in the middle of the pandemic to facilitate Twitter employees in completing their duties.
Of the perks that have been slashed, some of the biggest ones include extras like training and development, finishing school, daycare facilities for children of staff, and quarterly team activities. Other perks include all allowances and activities related to team member wellness and productivity, the provision of home internet, etc.
While getting rid of facilities like home internet makes sense, given that Twitter is stopping the practice of working from home, getting rid of training and development, especially for managers, is a little bizarre, according to industry insiders.
“Allowances will be reevaluated over time and may be added back when the company’s financial situation improves,” read an internal memo circulated among the remaining staff.
Musk had previously claimed that it cost Twitter about $4 million daily to feed its 7400-7500 employees. However, that claim was challenged by several people working at the company, including the team responsible for the meals served to staffers at Twitter offices.
Since Musk took control of Twitter, he has managed to fire about half of the 7500 people directly employed at the social media platform. In addition to this, he also terminated about 4000 or so contractual content moderators working for Twitter.
In addition to all this, the attrition at Twitter also includes another 1200-1500 people who resigned after Musk sent a request, warning employees that the culture at Twitter would have to undergo a massive overhaul and that employees willing to be a part of the new direction that Twitter would take, also called Twitter 2.0, should prepare themselves for longer working hours, and a more fast-paced, hardcore environment.
Elon Musk has since announced that he is done with terminating Twitter employees and is ready to hire engineers and salespeople for the ad sales team. He has also encouraged employees to refer people who fit the role.