A recently hired Twitter employee’s job offer was reportedly rescinded last week as the social-media giant frantically slashes costs during buyout talks with Elon Musk.
The scorned job seeker, identified as a male Palo Alto-based tech worker, said he had already begun preparations for the Mexico-based role on Twitter’s media partnerships team – including quitting his current job, backing out of his local apartment lease and securing temporary housing in Mexico City.
But days before the role was slated to begin, a Twitter representative informed the worker that his job offer was being rescinded due to the “current situation” at the company.
“My whole world just got destroyed in 25 seconds,” the worker, who stayed anonymous due to concerns about his future career prospects, told Bloomberg.
“It wasn’t just any random job. I celebrated. I called my dad,” he added.
A Twitter spokesperson declined to comment on any individual cases of rescinded job offers. However, the spokesperson told The Post that Twitter is offering compensation to any workers whose offers are revoked to help their job searches.
Twitter is currently reviewing all recently extended job offers to determine how critical the roles are to the company’s operations, the spokesperson added, citing debilitating macroeconomic conditions.
The embattled social media firm has enacted a hiring pause in recent days, though it is not currently planning to lay off employees during the acquisition talks. Twitter did not immediately specify how many job offers have been rescinded since the hiring pause was enacted.
A handful of prominent executives have departed Twitter this month during the ongoing turmoil at the company. The most recent resignations included Ilya Brown, a vice president of product management; Katrina Lane, a vice president of Twitter service, and Max Schmeiser, the head of data science.
Twitter CEO Parag Agrawal informed employees of the hiring pause in a message earlier this month, citing a recent lag on growth and revenue targets.
Twitter is attempting to keep its costs low during negotiations with Musk, who has expressed hesitance about proceeding with the deal due concerns about the number of bots in the company’s user base. Inflation, the Russia-Ukraine war and other factors are also weighing on the company’s finances.
When pitching lenders on his plan to acquire and transform Twitter, Musk reportedly said he could cut costs by laying off some employees and slashing executive pay.
Twitter shares are currently trading at approximately $39 – an indication that investors are skeptical that a deal will proceed at the $54.20 price outlined in Musk’s initial offer. Analysts have suggested Musk’s recent reticence could be an effort to lower the sale price.