Elon Musk to lay off half of Twitter’s staff, enforce return-to-office policy: report

Advertisement
- Advertisement -


Elon Musk plans to lay off nearly 3,700 employees — half of Twitter’s workforce — in an effort to cut costs and reduce its debt by “overpaying” for the social media platform, a report said on Wednesday.

- Advertisement -

Musk, who bought Twitter for $44 billion, has decided to tell half of the company’s employees that his last day at work is Friday, according to bloomberg,

The billionaire has already fired several top-level employees, including chief executive Parag Agarwal, whose job he took over – immediately naming himself “Chief Tweet”.

advertisement

Over the weekend, they continued to lay off layoffs, while directors were asked to list protracted employees to put on the chopping block, the report said.

The plans have not been finalized and are still subject to change, sources told the outlet. One option being considered is two months severance pay to the employees who are to be sacked.

- Advertisement -

A person familiar with the cuts told the outlet that senior personnel on product teams were ordered to make up for the 50% reduction in headcount.

Musk walked into Twitter headquarters with a sink after buying the social media company, saying, “Let it sink in.”
AP. via Elon Musk’s Twitter page

Sources said employees were added or spared from the layoff list based on their contributions to Twitter’s code during their time on the social media platform.

Musk brought in managers and engineers from Tesla to review the layoff list.

Ever since Musk announced that he was planning to buy the social media company months ago, rumors of major layoffs have been swirling among Twitter employees.

The “Twitter complaints hotline operator,” as Musk has now dubbed himself, will also announce an office-to-office policy for remaining employees at the company’s San Francisco headquarters — a reversal of Twitter’s current policy that allows employees to work from anywhere. also allows to operate, the sources said.

Earlier on Wednesday, Musk clapped back at verified Twitter users of the platform, who complained about the $8 per month service fee.

Musk’s decision to overhaul Twitter’s verification process with a subscription-based model has put a number of prominent figures this week, including famed author Stephen King, who say they will not pay the fee.

“To all complainers, please keep complaining, but it will cost $8,” Musk said in a tweet posted late Tuesday.

“Totally stole the idea of ​​charging for insults and arguments from Monty Python TBH,” Musk added with a clip from the comedy troupe.

According to multiple reports, the $8 monthly price tag is cheaper than the $20-per-month fee that Musk initially planned to charge.

Musk has reportedly given Twitter developers until the end of the week to complete their overhaul of the “Twitter Blue” subscription service — with employees potentially facing an ax if they fail to meet the deadline. are unable.

Credit: nypost.com /

- Advertisement -

Recent Articles

Related Stories