“This past week, we completed a difficult organizational overhaul focused on improving future execution, using as much feedback as we could gather from the entire company,” Musk wrote. “Those who remain are highly regarded by those around them.”
The short memo, titled “Performance Awards,” is Musk’s first communication to Twitter employees since he laid off hundreds more of them, including several senior loyalists and nearly all of the product team without warning over the weekend. (Platformer’s Zoë Schiffer first tweeted about the memo.)
After several rounds of cuts and demanding that employees be “extremely hardcore,” Musk hasn’t yet shared details about how he will make up for the stock awards that went away when he took Twitter private. In previous internal comments, he has alluded to the system he set up at SpaceX to let employees regularly sell the company’s stock to interested investors. Given Twitter’s distressed financial situation relative to SpaceX, it’s unclear what the appetite for its stock will be in the short term.
