Twitter's Employees Can't Go To 'The Happiest Place On Earth' In 2023, Cost Cutting Measures Hit Company Travel

  • Twitter Inc TWTR is ditching a companywide retreat scheduled for January 2023 at Walt Disney Company DIS Disneyland - 'The Happiest Place On Earth,' Bloomberg reports.
  • Twitter cited cost-cutting measures to reduce corporate travel behind the move.
  • The company's occasional gathering, known as 'OneTeam,' was last held in early 2020 in Houston before the pandemic forced the employees to start working remotely. 
  • Twitter is also amid a hiring hiatus to reduce expenses. 
  • Employees will likely hear from Tesla Inc TSLA CEO Elon Musk at an all-hands meeting on June 16. Musk had agreed to take over the company for $44 billion. 
  • Musk has already pitched cost-cutting plans at Twitter.
  • Significant companies, including Meta Platforms Inc METANvidia Corp NVDA, and Microsoft Corp MSFT, resorted to cost-cutting efforts, including downsizing employees amid macro uncertainties.
  • Price Action: TWTR shares traded higher by 1.92% at $38.72 in the premarket on the last check Thursday.
  • Image by PhotoMIX-Company from Pixabay
DIS Logo
DISThe Walt Disney Co
$90.260.28%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
31.52
Growth
63.23
Quality
-
Value
53.10
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In:
Comments
Loading...