Twitter Gets First Hand Feel Of Elon Musk's Tesla Culture; Musk Bans Remote Work After Downsizing

Comments
Loading...
  • Tesla Inc TSLA CEO Elon Musk has banned remote work at Twitter in his first email to the staff since buying the company, the Financial Times reported.
  • Musk warned that the social media platform needs “intense work” in the office to turn round its fortunes in his first email to the staff since his $44 billion takeover of the social media platform.
  • Employees must be in the office for a minimum of 40 hours per week, except for those “physically unable to travel” or with “a critical personal obligation,” the email read.
  • Also Read: Musk’s Twitter Cost Cut Plot Could Impact Google Cloud Services As He Orders To Cut Infra Costs By $1B
  • Musk added that he would review and approve any exemptions, instructing managers to compile lists of staff seeking to continue remote working. 
  • The new policy at Twitter matches Musk’s demands at Tesla, where in June, he insisted staff should turn up for work at least 40 hours a week in the office or find new employment. 
  • Musk began slashing the company’s 7,500-strong workforce this week as he warned that the platform had experienced a “massive drop in revenue” since his takeover
  • Musk has also asked staffers to work round the clock on new products, including a subscription charge for users to get access to a blue tick on their profile and features such as the edit button.
  • Twitter’s new office rules put it at odds with its social media rivals, whom all have flexible working in place.
Overview Rating:
Speculative
50%
Technicals Analysis
66
0100
Financials Analysis
40
0100
Overview
Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!