A reader surfaced a Bloomberg report to me that outlines the following:
Elon Musk plans to eliminate about 3,700 jobs at Twitter Inc., or half of the social media company’s workforce, in a bid to drive down costs following his $44 billion acquisition, according to people with knowledge of the matter.
Twitter’s new owner aims to inform affected staffers Friday, said the people, who requested anonymity discussing non-public plans. Musk also intends to reverse the company’s existing work-from-anywhere policy, asking remaining employees to report to offices — though some exceptions could be made, the people said.
Musk and a team of advisers have been weighing a range of scenarios for job cuts and other policy changes at San Francisco-based Twitter, the people said, adding that the terms of the headcount reduction could still change. In one scenario being considered, laid off workers will be offered 60 days’ worth of severance pay, two of the people said.
After the layoffs were sorted, Twitter Chief Accounting Officer Robert Kaiden left the company, becoming one of the last pre-Musk C-suite executives to depart, according to people familiar with the matter.
A spokesperson for Twitter didn’t immediately respond to a request for comment.
Musk is really under the gun to find a way to get Twitter to a point that it will not only make money, but he doesn’t look like someone who talks the talk but can’t walk the walk. Even though he has a history of not being able to walk the walk. And this is the sort of stuff that will send those who survive this coin flip shot at keeping their jobs at Twitter to the exit door faster than Barry Allen trying to save the day. Because as the person who brought this to my attention said, it’s no fun working for a dictator. I would agree with that, but I would also add that it’s no fun working for a dictator who is desperate and don’t have a clue.
Those who work for Twitter, those who use Twitter, and most importantly, those who were dumb enough to lend Musk money to buy Twitter should brace for impact as this is not going to end well for anyone.
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This entry was posted on November 3, 2022 at 1:17 pm and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed.
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Report Claims That Elon Musk Will Be Chopping 50% Of Twitter Staff
A reader surfaced a Bloomberg report to me that outlines the following:
Elon Musk plans to eliminate about 3,700 jobs at Twitter Inc., or half of the social media company’s workforce, in a bid to drive down costs following his $44 billion acquisition, according to people with knowledge of the matter.
Twitter’s new owner aims to inform affected staffers Friday, said the people, who requested anonymity discussing non-public plans. Musk also intends to reverse the company’s existing work-from-anywhere policy, asking remaining employees to report to offices — though some exceptions could be made, the people said.
Musk and a team of advisers have been weighing a range of scenarios for job cuts and other policy changes at San Francisco-based Twitter, the people said, adding that the terms of the headcount reduction could still change. In one scenario being considered, laid off workers will be offered 60 days’ worth of severance pay, two of the people said.
After the layoffs were sorted, Twitter Chief Accounting Officer Robert Kaiden left the company, becoming one of the last pre-Musk C-suite executives to depart, according to people familiar with the matter.
A spokesperson for Twitter didn’t immediately respond to a request for comment.
Musk is really under the gun to find a way to get Twitter to a point that it will not only make money, but he doesn’t look like someone who talks the talk but can’t walk the walk. Even though he has a history of not being able to walk the walk. And this is the sort of stuff that will send those who survive this coin flip shot at keeping their jobs at Twitter to the exit door faster than Barry Allen trying to save the day. Because as the person who brought this to my attention said, it’s no fun working for a dictator. I would agree with that, but I would also add that it’s no fun working for a dictator who is desperate and don’t have a clue.
Those who work for Twitter, those who use Twitter, and most importantly, those who were dumb enough to lend Musk money to buy Twitter should brace for impact as this is not going to end well for anyone.
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This entry was posted on November 3, 2022 at 1:17 pm and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.