Twitter is reportedly handing out restricted stock and cash up to $200,000 to keep talent from leaving its nest. Fred Katayama reports.
Twitter is doling out cash and stock to keep talent from leaving its nest. The Wall Street Journal reports the microblogging company has been handing out cash bonuses ranging from $50,000 to $200,000. And in an unusual move, it has granted various amounts of restricted stock. How much employees get depends on when they joined the company. Those who joined just 12 months ago have already seen the stock shed three-fifths of its value. The Journal says the moves are all aimed at trying to retain talent another six months to a year. Late January, four senior executives left Twitter.
It's a sign of just how heated the talent wars in Silicon Valley has become. LinkedIn, whosestock has lost more than half of its value in the last 12 months, is also doling out stock to try to keep employees from leaving. Last week, its CEO, Jeff Weiner, passed on his $14 million stockcompensation package over to the employee pool. Earlier in October, Twitter CEO Jack Dorsey did likewise, giving up a third of his shares in the company.