Twitter Cancels Disneyland Company Retreat as Part of Cost-Cutting Measures

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Image by Photo Mix from Pixabay

After recently hitting a pause on future hiring, social media giant Twitter has taken its cost-cutting measures to another level. The company recently announced a decision to cancel its annual company retreat scheduled to take place in Disneyland, Orland, in January next year.

Twitter organized its most recent employee gathering, known as OneTeam, in Houston in early 2020 before canceling the 2021 and 2022 retreats due to the pandemic. OneTeam was set to return in 2023, but the increasing costs of traveling and organizing events prompted the company to scrap it.

“The reduction of travel and event costs allow us to operate in a more responsible and efficient manner, considering the global macroeconomic environment we’re currently facing,” said Twitter through a spokesperson.

Twitter is employing several strategies in an attempt to keep its costs down during a challenging period for the tech industry. First, the company halted its hiring in May and also retracted some of the job offers it previously handed out. This was followed by a change in travel policy that now only includes business-critical purposes trips. As a result, all other domestic and international business travel will be halted in the near future. 

This might only be the beginning, especially if Elon Musk finalizes his purchase of Twitter. Musk hinted at plans to maximize social media platforms’ profitability through actions like cutting staff, slashing executive salaries, and introducing monetization.

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