Bad Management, Very Bad...

Elon Musk sent an email to X staff overnight that says stock options will be granted "based on the anticipated impact of employees". Staff must submit a one-page write-up that details how they've contributed to the company.

The move is similar to what Musk did at Tesla before laying off 10% of its staff. There, he asked managers at the company to determine which employees were "crucial" to its success.

At X, the request for employee one-pagers comes after the company delayed its promotions process without explanation, which suggests layoffs could be on the horizon.

X hasn't exactly been thriving under Musk's ownership. In October 2023, the company was valued at $19 billion, about a year after Musk paid $44 billion for the platform.