Twitter’s Acquisition by Elon Musk Creates ‘Money’ Anxiety among Employees

    Elon Musk’s acquisition of Twitter means that the company expects huge changes. According to some information, Twitter employees seem to be extremely worried about these possible changes.

    As you know, Elon Musk, the richest person in the world, is now the new owner of social media giant Twitter. Musk’s desire to buy Twitter first emerged about a month ago,  shortly after the billionaire businessman became the company’s largest shareholder; Despite all the efforts of the Twitter administration, Musk got what he wanted and recently announced that he had bought Twitter. 

    As you can imagine, such a big change means that other radical changes within the company are inevitable. However, it seems that Twitter employees are taking an uneasy approach to some of the changes that will take place with Musk. 

    What Musk can do creates unease among Twitter employees

    According to new information, Twitter employees in Singapore are worried about possible changes in payment and stock options after Elon Musk’s acquisition of the social media platform. While the company’s Asia-Pacific headquarters in Singapore appears to continue to operate as usual, the company’s brink of privatization is creating concerns about wages among employees. 

    With a change in ownership of a company, it is quite possible that some radical revisions will occur in the workforce structure as well. These notable changes naturally also affect staff positions in an organization.

    Yesterday, several Twitter employees admitted that they weren’t too worried about potential layoffs; however, many different issues, including stock options and compensation packages, seem to be on the minds of Twitter employees before Elon Musk’s upcoming takeover. Moreover, the discomfort felt by employees over Musk’s purchase of Twitter has begun to show its effects. The decision of employees at Singapore Headquarters to cancel an event after Musk’s $44 billion offer is shown as one of the clearest examples of this situation.

    Musk explores potential solutions that could lower the platform’s expenses

    A Twitter employee draws attention to the possible consequences of buying the platform, noting that employees with stock options will need to renegotiate their pay structures and contracts. However, the fact that company employees do not know much about purchasing, like the general public, means that they have little choice but to wait and see what happens.

    Moreover, it has been confirmed by an employee that the SpaceX CEO does not take any official duties within Twitter. The same employee also stated that it is too early to comment on the cost reduction; He states that the reason for this is that the agreement is not final yet. 

    In addition, according to some sources, Musk is considering ideas to cut costs to improve Twitter’s finances. The anonymous sources in question stated that the Tesla CEO was considering layoffs during the financing of the Twitter acquisition; It is noteworthy that Twitter CEO Parag Agrawal told his employees in a recent meeting that the company is not planning to layoffs. 

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