business

Twitter doles out stock, cash bonuses to retain talent, reports WSJ

March 10, 2016

Twitter is reportedly giving out stocks and cash to encourage staff to stay with the company. – AFP file pic, March 10, 2016.Twitter Inc is sweetening its employee compensation packages to encourage staff to stay with the company, The Wall Street Journal (WSJ) reported.

The company granted varying amounts of restricted stock depending on when the employees started working, intending to make up for the value they lost since joining the company, WSJ reported, citing people familiar with the matter.

The company has also been offering cash bonuses to some employees ranging from US$50,000 (RM205,000) to US$200,000 as an incentive to keep them around for another six months to a year, the Journal reported on Wednesday.

"Competitive compensation, strong leadership, and a confidence in the direction of the company are all key elements to having top talent," a Twitter spokeswoman said in an e-mail.

"We are investing in all three areas to ensure we maintain these employees." she said, without giving further details.

Twitter has been struggling to keep talent at the company as stagnant growth and a falling stock price have raised questions about the company's future.

Four top executives left the company in January, the biggest leadership changes since co-founder Jack Dorsey returned as chief executive last year.

Dorsey said in October he is giving a third of his stock in the company, or about 1 percent, to the employee equity pool.

Later that month, Dorsey spoke about "hiring and investing in talent" and the need for "bold rethinking". – Reuters, March 10, 2016.