Austin, August 24: Elon Musk has reportedly told X employees to share their contribution to the company in order to receive stock. The tech billionaire required X employees to submit a one-page summary of their work and provide reasons why they should earn the stock options. The X stock grants were expected and have reportedly caused further tension between the company’s management and employees.
The edge said in a report that X (formerly known as Twitter) continued to struggle after its acquisition in 2022 under the leadership of Elon Musk. Away from dismissals to being asked to take care of X employees themselves are tested by the new X-management. The report shed light on the condition of employees under Elon Musk Saying They “have prepared for further layoffs.” Elon Musk on obesity: Tech billionaire says ‘new appetite suppressant drugs’ could reduce rising obesity rates in the US.
It was also mentioned that X’s employees are still waiting for their annual equity refresh. which was discontinued To be announced in April 2024. Elon Musk had allegedly told X employees that they could cash in the shares just like SpaceX employees could; however, those affected said he had not kept his promise.
Employees of Elon Musk-owned Company X received an inventory refresh in October 2023. Twitter was bought by the CEO of Tesla and SpaceX for $44 billion And its value has fallen dramatically according to recent reports, influencing the banks due to the lower valuation of USD 19 billion in the market. Elon Musk’s X is testing the new group video calling feature that will likely be introduced on the platform soon.
Now The Employees of the company have other problems than them are forced To provide a justification for their individual contribution to X, on the basis of which the awards are given be distributed. The one-page summary by employees determines the stock premiums they earn.
(The above story first appeared on LatestLY on Aug 24, 2024 1:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com.)
