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Benzinga
Benzinga
Technology
Anusuya Lahiri

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

Nasdaq Elon Musk NYSE TWTR Meta Microsoft Corp Nvidia Corp Pixabay Tesla Inc. Twitter Inc.
  • Twitter Inc (NYSE:TWTR) is ditching a companywide retreat scheduled for January 2023 at Walt Disney Company (NYSE: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 (NASDAQ: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 (NASDAQ:META), Nvidia Corp (NASDAQ:NVDA), and Microsoft Corp (NASDAQ: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
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