San Francisco – Elon Musk Four people familiar with the matter said he plans to begin laying off workers at Twitter as soon as Saturday, with some managers asking that they prepare employee lists for the cancellation.
the master. musk from Completed a $44 billion deal Twitter’s purchase on Thursday ordered cuts across the company, with some teams cutting back more than others, three people said, who declined to be identified for fear of retaliation. The size of the layoff cannot be determined. Twitter has about 7,500 employees.
Since then, reports of layoffs have been spreading on Twitter the master. Musk agreed to buy the company in April. The billionaire, who also leads electric car maker Tesla and rocket company SpaceX, owns He told the investors he will Make Twitter privatereduce the workforce, roll back content moderation rules, and find new revenue streams.
Twitter will be laid off before November 3. The first date that employees were to receive stock grants as part of their compensation. These grants typically represent a significant portion of employees’ salaries. By laying off workers before that date, Mr. Musk may avoid paying grants, although he is supposed to pay employees in cash instead of their stock under the terms of the merger agreement.
twitter and a representative of mr. Musk did not respond to requests for comment.
Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, said Jared Birshall, president of Mr. Musk family office, that layoffs are coming on Twitter. “I was told to expect somewhere around 50 per cent of people to be laid off,” he said.
Elon Musk’s Twitter Acquisition
Fantastic deal. In April, Elon Musk made a $44 billion unwanted bid to the social media platform, saying he wanted to turn Twitter into a private business and allow people to speak more freely on the service. Here’s how the months-long battle ended:
the master. Gerber said his company invested less than $1 million to help fund Mr. Musk’s acquisition of Twitter. the master. Birshall did not respond to an email for comment.
the master. Musk, 51, has moved quickly since taking ownership of Twitter on Thursday. he is Arrived at the company’s headquarters in San Francisco On Wednesday he began to meet the staff. late on Thursday, Twitter CEO sackedCFO and other executives. He made too A call to advertiserswho provide the bulk of Twitter’s revenue, to tell them the platform will be a respected advertising destination.
but mr. Musk takes time to evaluate other areas of Twitter, such as deciding which posts to follow and remove on the site. While he initially said he wanted Twitter to be a free place for all kinds of comments and bring back banned users, Including former President Donald J Trump, the master. Musk made it clear on Friday that such changes would not occur immediately. Instead, he announced that he was planning on it board formation To handle content questions and not immediately bring back blocked users.
the master. It also appears that Musk is testing Twitter engineers. Three people familiar with the matter said he and his team commissioned some of their projects. They said that one of the projects included changes to the Twitter login screen. They said some of the engineers worked late Friday night to get the job done.
On Twitter, some users who accused the platform of suppressing the new ownership triumphed, while others expressed concern that the site would be inundated with hate speech and misinformation. Some users – like star producer Shonda Rhimes, “This Is Us“ Executive Producer Ken Olin tweeted and “Billions” opposed Brian Kopelman that they were leaving the social media platform now that it was run by Mr. musk.
Other Twitter users have expressed concern about the surge in hate speech that has been reported on the platform since Mr. Musk took control. NBA star LeBron James points to a report by the Network Contagion Research Institute, a private group that studies the spread of ideological content on the Internet, which He said That use of racial slurs on Twitter increased nearly 500 percent in the 12 hours after Mr. The deal has been completed.
“I don’t know Elon Musk, and it doesn’t matter who owns Twitter,” said Mr. mosques chirp. “But I will say that if this is true, I hope he and his people will take this seriously because this is scary.”
Saturday, mr. Musk took to Twitter to discuss food. “Fresh bread and pastries are one of life’s greatest joys,” he wrote on Twitter.
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