Musk intends to start laying off Twitter employees .Elon Musk requested expansive cutbacks on Twitter on Saturday. While it’s unknown how many employees will be affected, insiders tell the NYT that some departments will be more negatively affected than others. According to earlier reports, Musk intends to reduce Twitter’s workforce by 75%, but he apparently informed staff members differently when he brought the actual sinks to the company’s offices on Wednesday.
The Times said some managers have been instructed to compile the names of workers to fire from Twitter, which now employs about 7,500 people. Before November 1, when workers are expected to receive their stock awards, which “typically make up a substantial portion of their income,” they could be laid off. According to the NYT, if Musk fires the employees before this deadline, he will not be required to pay for these awards. The Verge contacted Twitter for comment, but they did not immediately respond.
On Friday, Musk bought Twitter for $44 billion. After gaining control, he sacked several executives, including former CEO Parag Agarwal, top financial officer Ned Sehgal and policy director Vijaya Gadde. The billionaire made his first bid to buy Twitter in April, tried to back out of the deal, and then changed his mind once again earlier this month.
After the dust has settled, it’s unclear what Musk intends to do with Twitter, though he has previously said he wants to develop the platform into a “shared digital town square” where a variety of opinions can be expressed in a healthy way. can be expressed. can be expressed. Arguments can be given without support. for violence.
Users are concerned that Musk, a self-proclaimed “free speech absolutist”, will allow the platform to devolve into a “free-for-all hellscape”, but he insists this will not happen and has formed a content monitoring committee. has established. the legacy. Musk is looking to cut jobs by November 1 to avoid paying employee stock grants.
Elon Musk ordered company-wide layoffs at Twitter on Saturday, according to a report in The New York Times. It’s unclear how many employees will be affected by the reported job cuts, but sources tell the NYT that some departments will be affected more than others. Later on Sunday evening, he tweeted “that’s a lie” in response to a snippet of the article, without specifying anything in particular.
Previous reports indicated that Musk is looking to cut Twitter’s workforce by 75 percent, though he reportedly told employees otherwise when he arrived at the company’s headquarters on Wednesday with an actual sink. Twitter currently has about 7,500 staff members, and as the Times noted, some managers have been asked to come up with lists of employees to let go.
The cutbacks could occur before November 1 – that very day workers should accept their stock awards, which “normally address a huge part” of their compensation. According to NYT, if Musk lays off employees before this date, he may not have to pay this grant. Twitter didn’t quickly answer a solicitation for input from The Edge.
Musk completed the $44 billion acquisition of Twitter on Friday and fired several executives, including former CEO Parag Agarwal, chief financial officer Ned Sehgal and policy chief Vijaya Gadde, upon taking ownership. While each executive was to receive hefty severance pay, a report in The Information suggests that Musk terminated them “for cause” in an effort to disqualify them from receiving their respective golden parachutes.
The extremely rich person originally proposed to repurchase Twitter in April, and later endeavored to pull out of the arrangement prior to adjusting his perspective again recently. It’s not entirely clear what Musk plans to do with Twitter after the dust settles, but he recently said he wants the site to become a “generic digital town square” where beliefs can be shared. Could About to happen A wide range of issues can be debated in a healthy manner, without violence.
We will not let this become a “free-for-all hellscape” and plan to set up a Content Moderation Council. Previous reports indicated that Musk is looking to cut Twitter’s workforce by 75%. Kasturi has reportedly ordered cuts across the company, with some departments affected more than others. Twitter currently has about 7,500 staff members, and the Times reported that some managers have been asked to come up with lists of employees.
The layoffs could happen before November 1 because employees are typically set to receive stock grants as part of their compensation. Stock grants, according to the Times, “typically represent a significant portion of their pay” and the billionaire may not have to pay these grants if his company lays off employees before the date.
Musk completed the $44 billion acquisition of Twitter on Thursday and fired former CEO Parag Agarwal, chief financial officer Ned Sehgal and policy chief Vijaya Gadde upon taking ownership. Prior to completing his $44 billion acquisition, Musk reportedly told investors that he planned to lay off 75% of Twitter’s workforce. However, Musk is said to have told employees this week that he would not dramatically cut the workforce.
While the billionaire didn’t share specific details on his plans for the company, he did share his broader vision for a “common digital town square” where people can debate a wide range of beliefs in one place. On Saturday, Musk took to Twitter to discuss the food. “Recently pre-arranged bread and cakes are a part of life’s exceptional pleasures,” he tweeted.