According to The New York Times, employees were told Friday that they're going to get half their usual bonuses because of the company's financial problems.
In an email to staff, Ned Segal, the company's CFO, said that if financial targets were being hit, the company's bonus pool would be 50% of what it could be.
They didn't reply to Insider's request. The New York Times said that the email's authenticity was confirmed by a spokesman for the social networking site.
As it tries to force Musk to complete his proposed $44 billion acquisition of the social-media group, it has warned on bonuses.
Concerns of a recession have caused a downturn in the ad market for platforms that rely on it for revenue.
It is possible that the company's financial performance will improve before employees are paid out.
The battle between the parties over the proposed deal has resulted in a fractious court case. Musk wants to know about the volume of fake accounts on the platform.
The first quarterly revenue decline since 2020 was caused by uncertainty over Musk's proposed takeover of the company, as well as advertising industry headwinds, according to the second-quarter earnings report. A net loss of $270 million was reported by the company in the second quarter of this year.
Dozens of Google's external recruiters just lost their jobs as a result of the hiring freeze, according to Insider.
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