Woke Twitter staff warned bonuses will be HALF what they expected as firm suffers huge loss

Woke Twitter staffers had been advised Friday that their upcoming bonus checks could be half what they expected on account of a punishing second quarter and the pricey battle with Elon Musk over his aborted $44 billion takeover bid.

Firm CFO Ned Segal despatched an e-mail to the businesses 7,500 staffers letting them know that the bonus pool has been drained on account of a $270 million web loss within the spring.

The corporate blamed a skittish promoting trade, which accounts for a lot of the platform’s income, that has been hesitant to spend advert {dollars} due to the financial uncertainty brought on by the warfare in Ukraine.

Twitter CFO Ned Segal told staffers that the bonuses this year could be half of what they expected

Twitter CFO Ned Segal told staffers that the bonuses this year could be half of what they expected

Twitter CFO Ned Segal advised staffers that the bonuses this yr may be half of what they expected

Twitter lost $270 million in the second quarter of 2022 because of weak ad sales and the aborted takeover bid by Elon Musk

Twitter lost $270 million in the second quarter of 2022 because of weak ad sales and the aborted takeover bid by Elon Musk

Twitter misplaced $270 million within the second quarter of 2022 due to weak advert gross sales and the aborted takeover bid by Elon Musk

Elon Musk offered to buy the company for $54.20 a share, a 38 percent increase over the stock price at the time

Elon Musk offered to buy the company for $54.20 a share, a 38 percent increase over the stock price at the time

Elon Musk supplied to purchase the corporate for $54.20 a share, a 38 % improve over the inventory worth on the time

Musk’s flirtation with buying the corporate in April didn’t assist the corporate’s backside line. 

The aerospace and digital automotive pioneer created inside turmoil and despatched inventory costs on a curler coaster journey when he agreed to buy the corporate for $54.20 a share, a 38% improve from the place the inventory stood on the time.

On the time, Musk slammed the social media platform’s woke tradition and criticized its coverage of suppressing speech. 

Twitter's stock price sank nearly 30 percent since last year due to the aborted takeover bid by Musk and the anemic ad buys on the platform

Twitter's stock price sank nearly 30 percent since last year due to the aborted takeover bid by Musk and the anemic ad buys on the platform

Twitter’s inventory worth sank practically 30 % since final yr as a result of aborted takeover bid by Musk and the anemic advert buys on the platform 

Then, in July, he pulled out of the deal, tweeting out a poop emoji and complaining about bots and faux accounts on the platform.

Of their second quarter assertion, Twitter chalked up its monetary bother to ‘promoting trade headwinds related to the macroenvironment as nicely as uncertainty associated to the pending acquisition of Twitter by an affiliate of Elon Musk.’

The corporate sued Musk in federal court docket, claiming breach of contract, saying he signed a binding contract to purchase the corporate for the premium share worth.

Since Musk deserted the provide, the inventory worth has dipped practically 30 % since final yr.

Twitter staff had categorical resistance to the tech billionaire’s takeover after he promised to loosen the foundations on what will get censored on the platform.

The billionaire blasted the ‘excessive antibody response’ from ‘those that concern free speech’ and stated it ‘says all of it’ as he launched his first public backlash towards the employees.


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