Twitter Warns Staff of Potential Cuts to Bonuses -- WSJ

Dow Jones2022-08-20

By Meghan Bobrowsky

Twitter Inc. warned staff that the size of bonus payments this year was at risk because of financial difficulties, adding to belt-tightening measures tech companies are implementing in the face of the economic downturn.

The social-media company Friday told employees it had "experienced significant challenges" to revenue since January. It linked those to a variety of factors, including problems in the global economy and others tied to uncertainty over Elon Musk's $44 billion acquisition of the social- media platform that the billionaire is trying to abandon.

Twitter last month reported a surprise decline in sales that it blamed on similar factors. The company reported a loss of $270 million.

More to Come

Write to Meghan Bobrowsky at Meghan.Bobrowsky@wsj.com

$(END)$ Dow Jones Newswires

August 19, 2022 21:29 ET (01:29 GMT)

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