Twitter to cut annual bonuses for employees by half amid downturn

Parag Agrawal-led Twitter has warned employees that they are set to get only half of their annual bonuses, as the economic meltdown gets deeper.

Twitter’s chief financial officer Ned Segal told employees that global market conditions would affect the annual bonuses they receive, with the “bonus pool currently at 50 per cent of what it could be if the company met its financial targets,” reports The New York Times.

The annual bonus figure could fluctuate even further throughout the year based on Twitter’s upcoming earnings, according to Segal who wrote an email to Twitter employees on Friday.