July 3, 2022

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Elon Musks Takeover Could Mean a Very Different Twitter for

Elon Musk has laid out many concepts on how he plans to enhance Twitter for its customers, reminiscent of eliminating dangerous bots, eradicating adverts and open-sourcing the platform’s algorithms. As for the corporate’s 7,000 staff, nevertheless, issues are a lot much less clear and sure.

Twitter’s board chairman Bret Taylor assured staff at an all-hands assembly the afternoon of April 25 that the board’s settlement to promote Twitter to Musk prioritized “working continuity” not less than till the deal’s shut, which can doubtless take three to 6 months. After that, nobody however Musk has definitive solutions.

Many Twitter staff are asking questions on layoffs, pay cuts, administration modifications, and whether or not some banned accounts, reminiscent of that of former President Donald Trump, may return. The corporate stated Musk is anticipated to host a Q&A session with Twitter staff at a future date. Here’s what we all know up to now:

Layoffs and management shakeup?

Following the acquisition, Twitter’ 11-person board will dissolve, stated chairman Taylor, which can go away future firm choices within the sole fingers of Musk.

Twitter CEO Parag Agrawal advised staff at Monday’s all-hands that there could be no layoffs “presently” and that he would stay as CEO till the deal closes.

“We don’t have all of the solutions,” Agrawal advised his employees. “This can be a interval of uncertainty.”

One casualty could possibly be Agrawal, who was appointed as Twitter CEO in November 2021 following his predecessor Jack Dorsey’s resignation. Earlier than that, he was the corporate’s chief expertise officer.

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Musk, a good friend of Dorsey’s, doesn’t appear to love his successor very a lot. In December 2021, shortly after Agrawal took the job, Musk mocked him by tweeting a photoshopped meme depicting the chief as former USSR dictator Joseph Stalin and Dorsey as Nikolay Yezhov, a Stalin affiliate who was assassinated underneath his course.

The tweet was presumably a jab at Agrawal for his previous feedback defending censorship on Twitter.

Worker exodus and pay cuts?

Many Twitter staff are nervous about working for Musk. A former Twitter government who now leads one other firm advised Enterprise Insider messages and calls from Twitter staff asking about job alternatives have “change into day by day” since Musk proposed the takeover.

For many who plan to remain, a giant query is what is going to occur to their pay packages after the corporate goes non-public. Many Twitter staff obtain half or extra of their compensation in inventory choices. When Twitter turns into a non-public firm, they may lose entry to the long-term appreciation of Twitter shares.

Agrawal advised staff at Monday’s all-hands their vested inventory choices will convert to money on the deal’s shut. Workers will maintain getting bonuses in keeping with the corporate’s vesting schedule and can obtain the identical advantages for a yr after the deal is finalized.

One other frequent concern is pay cuts. Managers and engineers at Twitter are paid considerably greater than their equivalents at different Musk-run corporations. A senior software program engineer at Twitter earns as a lot as half 1,000,000 {dollars} a yr, together with base wage, inventory and money bonus, in keeping with Ranges, a tech profession and compensation info web site. An analogous position at Tesla earns solely half the quantity, in keeping with Ranges information.

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“Musk is understood to not pay effectively. So [the] firm may do effectively however there will likely be [an] exodus of engineers,” an Amazon worker wrote Monday underneath a thread titled “Bye bye Twitter?” on Staff Blind, an nameless on-line discussion board for verified tech employees.

“Anticipate layoffs for the highly-paid paid administration positions,” a Twitter worker commented underneath the identical thread.

“Can somebody simply inform me if I’m wealthy or fired please,” Ned Miles, a Twitter viewers insights lead based mostly within the U.Ok., tweeted Monday afternoon.

Finish of WFH?

Musk’s takeover may additionally imply the tip of working from residence, a coverage put in place by Dorsey in October 2020 when he was CEO. Twitter was the primary main tech firm to permit everlasting distant work throughout the pandemic. The choice influenced comparable insurance policies at many Silicon Valley corporations.

That might change underneath Musk’s management. “Elon is infamous for firing WFH and contractors,” a SpaceX worker posted on Staff Blind.

Early within the pandemic, Tesla allowed staff to remain at residence in the event that they felt uncomfortable about coming to the manufacturing facility. However in June 2020, whereas the coverage was nonetheless in place, Musk fired two Tesla employees for “failure to return to work.”

“Massive communication penalty for distant work, which implies the acquire in expertise that gained’t transfer needs to be very excessive,” Musk tweeted in December 2019 to a query asking his opinion on distant work.

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