Elon Musk, the CEO of X/Tech, recently sent out an email to the company’s staff detailing their much-anticipated stock grants. However, there is a catch. The company plans to award stock options based on the anticipated future impact of employees. In order to receive these grants, staff members are required to submit a one-page summary outlining their contributions to the company.
Tensions Rising Between Leadership and Staff
These anticipated stock grants have only added to the tensions between X’s leadership and staff. This comes after the promotions process was delayed without any explanation, as previously reported. It seems that employees at X/Tech are on edge, especially considering the company’s history of struggling under Elon Musk’s ownership. The fear of more layoffs looms over the staff as they await their stock grants.
Unfulfilled Promises
It has been reported that the company still owes its staff their annual equity refresher, which was supposed to be distributed in April. Musk had previously promised employees that they would be able to regularly cash out stock, similar to SpaceX staff. However, this promise has not been fulfilled, leaving employees feeling uncertain about the future.
The controversy surrounding X/Tech’s stock grants under Elon Musk’s ownership is causing tension and uncertainty among staff members. The requirement to outline anticipated future impact for stock options, along with unfulfilled promises of equity refreshers, has left employees on edge. It remains to be seen how X/Tech will address these issues and whether Musk will follow through on his promises to employees.