With multiple reports that new owner Elon Musk will lay off half of the workforce, Twitter’s beleaguered employees are preparing for bad news.The demoralized workforce at Twitter would be dealt a fresh blow by this.
Twitter has already been rocked after Musk disbanded the company’s board of directors, fired senior executives, and removed executives from the platform.
Now, it has been reported by two media outlets that Elon Musk may half-cut the 7,500 employees.
Job cuts, according to reports, Musk told investors shortly before the deal was closed that he planned to fire 75% of Twitter’s 7,500 employees, bringing the company’s workforce down to just over 2,000 if the reports are accurate.
On the other hand, when Musk paid a visit to Twitter’s headquarters on Wednesday of last week, he informed employees that when he takes over, he will not be laying off 75% of employees.
That statement did little to reassure demoralized workers at the company, despite the fact that they are aware that job cuts are coming.
The Washington Post then reported on Monday of this week that in a first round of layoffs, Musk intends to fire approximately one quarter of Twitter’s employees, bringing the total number of affected employees to nearly 2,000.
Following his $44 billion acquisition of Twitter, Musk plans to cut costs by eliminating between 3,700 and 3,800 jobs at the social media company, or half of its workforce, according to people with knowledge of the situation.
In order to discuss private plans, the individuals requested anonymity and stated that Musk intends to notify employees on Friday.
Additionally, Musk intends to permanently end the company’s work-from-anywhere policy, which was implemented in May 2020.
The individuals claim that he will, with some exceptions, require the remaining employees to report to offices.
This is not an impulsive choice.
In June of this year, for instance, Musk instructed Tesla employees to resign or return to office work.
Twitter employees who lose their jobs may receive severance pay for up to 60 days, according to reports.
Advertisers are concerned after one week under Elon Musk’s control, and Twitter is changing quickly.
Twitter Blue will now cost $8 per month in spite of opposition, and the editing feature may be available to everyone as soon as this week.
In addition, employees at Twitter are still under Musk’s pressure to redesign the subscription and verification systems within a week, according to rumors.
Twitter managers were said to have instructed employees to work 12-hour shifts seven days a week to meet Musk’s strict deadlines or risk losing their jobs, according to a Tuesday report.
According to reports, Musk has formed a “content moderation council” in response to advertising concerns regarding his “free speech” approach to such decisions.
Interpublic Group (IG), a major advertiser, is said to be advising clients of its IPG Media Brands agencies to stop all paid Twitter advertising for at least a week.Major brands have reportedly been urged to stop spending money on Twitter advertising as a result.