Elon Musk is said to have ordered job cuts across Twitter – Times of India
SAN FRANCISCO: Elon Musk planned to begin laying off workers at Twitter as soon as Saturday, four people with knowledge of the matter said, with some managers being asked to draw up lists of employees to cut.
Musk, who completed a $44 billion deal to buy Twitter on Thursday, has ordered the cuts across the company, with some teams to be trimmed more than others, said three of the people, who declined to be identified for fear of retaliation. The scale of the layoffs could not be determined. Twitter has about 7,500 employees.
Reports of layoffs at Twitter have swirled since Musk agreed to buy the company in April. The billionaire, who also leads electric carmaker Tesla and rocket company SpaceX, has told investors that he would take Twitter private, reduce its workforce, roll back its content moderation rules and find new revenue streams.
The layoffs at Twitter would take place before Tuesday, when employees were scheduled to receive stock grants as part of their compensation. Such grants typically represent a significant portion of employees’ pay. By laying off workers before that date, Nov. 1, Musk may avoid paying the grants.
Twitter and a representative of Musk’s did not respond to requests for comment.
Musk, 51, has moved swiftly since assuming ownership of Twitter. He had arrived at the company’s San Francisco headquarters Wednesday and began meeting employees. Late Thursday, he fired Twitter’s CEO, chief financial officer and other executives. He has also made an appeal to advertisers, who provide the bulk of Twitter’s revenue, to tell them that the platform will be a respected advertising destination.
But Musk is taking time to evaluate other areas of Twitter, such as deciding what posts to keep up and take down on the site. Although he initially said he wanted Twitter to be a freewheeling place for all kinds of commentary and would bring back banned users, including former President Donald Trump, Musk on Friday made it clear that such changes would not happen immediately. Instead, he announced that he planned to form a council to handle content questions and would not immediately reinstate users who had been barred.
On Twitter, some users who accused the platform of muzzling them have been triumphant about the new ownership, while others have worried that the site will be overrun by hate speech and misinformation.
Musk, who completed a $44 billion deal to buy Twitter on Thursday, has ordered the cuts across the company, with some teams to be trimmed more than others, said three of the people, who declined to be identified for fear of retaliation. The scale of the layoffs could not be determined. Twitter has about 7,500 employees.
Reports of layoffs at Twitter have swirled since Musk agreed to buy the company in April. The billionaire, who also leads electric carmaker Tesla and rocket company SpaceX, has told investors that he would take Twitter private, reduce its workforce, roll back its content moderation rules and find new revenue streams.
The layoffs at Twitter would take place before Tuesday, when employees were scheduled to receive stock grants as part of their compensation. Such grants typically represent a significant portion of employees’ pay. By laying off workers before that date, Nov. 1, Musk may avoid paying the grants.
Twitter and a representative of Musk’s did not respond to requests for comment.
Musk, 51, has moved swiftly since assuming ownership of Twitter. He had arrived at the company’s San Francisco headquarters Wednesday and began meeting employees. Late Thursday, he fired Twitter’s CEO, chief financial officer and other executives. He has also made an appeal to advertisers, who provide the bulk of Twitter’s revenue, to tell them that the platform will be a respected advertising destination.
But Musk is taking time to evaluate other areas of Twitter, such as deciding what posts to keep up and take down on the site. Although he initially said he wanted Twitter to be a freewheeling place for all kinds of commentary and would bring back banned users, including former President Donald Trump, Musk on Friday made it clear that such changes would not happen immediately. Instead, he announced that he planned to form a council to handle content questions and would not immediately reinstate users who had been barred.
On Twitter, some users who accused the platform of muzzling them have been triumphant about the new ownership, while others have worried that the site will be overrun by hate speech and misinformation.
