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There is no way the average salary of all the employees cut would be $300k. I'd be surprised if the average was higher than $100k. At least one source I found
by jjeaff 4y ago
There is no way the average salary of all the employees cut would be $300k. I'd be surprised if the average was higher than $100k.
At least one source I found says the average salary of Twitter employees is $97k. (US only total compensation is closer to $300k with an average of $270k. But a lot of that is probably stock options which now must be paid in cash).
So I would imagine the total savings are closer to $250m compared to when Twitter was public but maybe a lot more in savings vs what Twitter would have bled considering the stock options portion of the compensation would have had to have been cash.
- Ancapistani 4y agoYeah, total comp is the number the business cares about in this situation. Salary is only a part of that. > a lot of that is probably stock options which now must be paid in cash I won't say that's not a big deal, but it's a one-time cost. Paying $500k today to save $300k / year is an excellent move for Twitter - assuming, of course, that Musk is correct in his estimation that the employees cut were not contributing to the company's revenue.
- GoldenStake 4y agoLevel.fyi suggests much higher than 97k https://www.levels.fyi/companies/twitter/salaries https://www.levels.fyi/companies/twitter/salaries Although level.fyi is probably biased to high earners who post their salaries and has less data for non-engineers.
- jjeaff 4y agoMy guess is that the majority of employees at Twitter are not in fact engineers.