30 August 2024

Elon Musk’s new policy at X has raised eyebrows and caused concern among employees. Musk has introduced a rule that requires staff to “justify” their eligibility for stock options by submitting a one-page summary of their contributions. This change follows an internal meeting in June where Musk announced delays in promotions and a new evaluation process with “lighter-weight check-ins.”

The tech mogul has linked stock rewards to employee impact, shifting from the previous promise of stock options for everyone. Employees now need to prove their contributions to earn these options.

This policy shift is adding to the challenges at X, formerly Twitter, which has already seen employee departures under Musk’s leadership. The company is grappling with potential layoffs, and Musk’s previous assurances of stock options for all seem to have been reversed.

Musk has also faced legal issues related to denying benefits to former Twitter/X employees. Since acquiring Twitter (now X) in October 2022, he has drastically reduced the workforce, leading to a lawsuit from former executives who allege that Musk failed to provide severance pay after firing them without cause.