FOX Business senior correspondent Charlie Gasparino has the latest on the billionaire’s counterclaim on The Claman Countdown.
According to Twitter, the company is grappling with economic uncertainty, which could impact employee bonuses.
According to the New York Times, employees were told Friday they may only be paid half their typical annual bonus.
In the company’s latest earnings report, sales fell for the first time since 2020 and the company posted a net loss.
Twitter is embroiled in a legal battle to get Elon Musk to complete his $44 billion purchase of the company.
The logo for Twitter is displayed on a screen on the floor of the New York Stock Exchange. (Portal/Brendan McDermid/Portal)
Advertisers appear to be taking a wait-and-see attitude due to uncertainty about Musk’s acquisition and how it will affect the company’s future.
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Advertising generates most of Twitter’s revenue, which has also been impacted by economic fears over the war in Ukraine.
In this photo illustration, Tesla CEO Elon Musk is pictured with a Twitter logo on a smartphone screen. (Photo illustration by Sheldon Cooper/SOPA Images/LightRocket via Getty Images/Getty Images)
Musk agreed to buy Twitter in April and has been trying to walk out of the deal since July.
Twitter wants to force the purchase.
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The case will go to court in October.
A sign is pictured in front of Twitter’s headquarters in San Francisco. (AP Photo/Jed Jacobsohn/AP Newsroom)
In the email to employees, Twitter’s chief financial officer Ned Segal said these challenges would likely impact the annual bonuses they receive, with the bonus pool currently standing at 50 percent of what it could be if the company would meet its financial goals Two employees who received the news.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| TWTR | Twitter Inc. | 43.99 | +0.13 | +0.30% |
| TSLA | TESLA INC. | 890.00 | -18.61 | -2.05% |
The company ties its annual bonuses to its performance against revenue and profitability targets.
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A Twitter spokesman confirmed the accuracy of the email and declined further comment.