Since Musk’s $44 billion purchase late last week, Twitter employees have been anticipating this type of bad news. He quickly dismantled its board and fired its chief executive officer and top managers.
Twitter announced that it would begin laying off employees Friday as Elon Musk, the billionaire new owner of Twitter, moves fast to make the messaging site financially sound.
AFP has seen a company-wide email that states that Twitter employees will be notified via email about their fate at the beginning of business Friday, California Time.
Although it doesn’t give a number for the employees, the Washington Post as well as the New York Times reported about half of Twitters 7,500 employees being laid off.
The email stated that in an effort to put Twitter on a healthy track, they would go through the difficult task of reducing their global workforce.
Since Musk’s $44 billion purchase late last week, Twitter employees have been anticipating this type of bad news. He quickly dismantled its board and fired its chief executive officer and top managers.
Musk ordered a workplace review, employee review, and other projects. Some engineers even slept in the Twitter headquarters for the weekend.
Workers were instructed to return home on Thursday and not report to work Friday, according to an email.
The email stated that “our offices will temporarily close and all badge access would be suspended.” All those who are on their way to the office need to turn around and go home.
In an email, the email acknowledged that Twitter was going through “an extremely challenging experience.”
It stated that while we are aware of the impact this will have on a few individuals who have made valuable contributions, this is necessary for the company’s continued success.
Musk claims he paid too much for Twitter’s purchase. The tycoon is now looking for ways to make Twitter money fast.
His latest idea was to charge $8 per month for anyone who uses Twitter and would be issued a “verified” blue badge, assuring that the account is genuine.
This week, a news report claimed that Musk wanted to charge $20 per month. However, he faced backlash from Stephen King, bestselling author, who tweeted: “$20 per month to keep my Blue Check?” This was followed by an expletive.
Musk replied on Twitter, appearing to be bargaining with King: “We need to pay the bills somehow!” Twitter can’t rely solely on advertisers. What about $8?
Musk stated that he would like to see Twitter’s revenue rise from $5 billion lastyear to over $26 billion by 2028.
As Musk is under increasing pressure to make his platform a success, top global companies like General Mills, Volkswagen and others suspended advertising on Twitter.
General Motors, the US auto giant, was last week the first major advertiser not to continue advertising after the takeover.
Officials and civil right groups expressed concern that Musk would open the site to hate speech and misinformation, as well as allow banned accounts to be reinstated, including those of Donald Trump.
Twitter’s primary source of revenue is from advertisers. Musk tried to soothe the nerves by reminding that it would not be a “free for all hellscape” and that there will be a price.
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