Alex Bruno
According to the managing editor of Platformer, Zoe Schiffer, Twitter CEO Elon Musk is reportedly cutting down on staff perks.
After acquiring the social networking site in October, he has made a number of contentious cost-cutting decisions, and this is the most recent.
NEW: Twitter is cutting employee benefits starting this quarter. Commuter benefits, family planning, and meal allowances are all out. Coffee and snacks are staying, per an internal email.
— Zoë Schiffer (@ZoeSchiffer) January 4, 2023
Schiffer tweeted on Wednesday that, according to an internal email, the company would no longer provide stipends for things like “commuter advantages,” “family planning,” or “meal allowances” beginning in the current quarter. Snacks and coffee will continue.
By Friday afternoon, Musk didn’t seem to have either verified or refuted the allegation.
Birth control, sterilization, and IVF are all examples of “family planning” services, but abortion is also included in this broad category. It’s unclear what advantages Twitter offered in terms of “family planning.”
Musk launched high-profile cost-cutting initiatives as soon as he took over Twitter. The firm had 7,500 workers, and he swiftly let approximately half of them go, followed by more layoffs.
According to the New York Times, debt from his $44 billion purchase, the largest-ever tech buyout, required a business that was never really lucrative to pay an additional $1 billion in interest payments every year.
And while he works to restructure the economic model around subscriptions, Musk has reportedly complained of a “huge loss in income” from ads.
The Times stated that Musk dismissed the janitors at the San Francisco headquarters right away after they went on strike in December, leading the restrooms to become filthy and forcing staff members to carry their own toilet paper to work.
According to people who spoke to the Times, Musk huddled employees so tightly together that the workplace may smell like leftover food and body odor after skipping rent payments there and shutting several floors.
A January 17 auction will include hundreds of workplace furnishings, including espresso machines and a 6-foot sculpture of the sign “@.”
According to Bloomberg, Musk recently claimed that he “spent the past five weeks slashing expenses like crazy” to prevent a $3 billion deficit during a live Twitter Spaces debate.
Musk compared the firm to being in an aircraft with malfunctioning controls that is traveling at a fast rate of speed toward the ground. After making expense reductions, he said, he now believes that Twitter “will, in fact, be alright” in 2023.
Source: American Military News
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