Elon Musk to Lay Off Half of Twitter’s Staff, Enforce Return-to-Office Policy – According to a report released on Wednesday, Elon Musk intends to fire 3,700 staff, or almost half of Twitter’s personnel, in an effort to cut costs and pay off debt incurred from “overpaying” for the social media platform. According to Bloomberg, Musk, who paid $44 billion for Twitter, has chosen to let the company’s half-staff know that their last day on the job is Friday.
The billionaire has previously let go of a number of senior employees, including Chief Executive Officer Parag Agrawal, whose position he immediately renamed “Chief Twit” after taking over. He continued the layoffs over the weekend as directors were reportedly requested to compile lists of protracted staff to dismiss. The plans haven’t been finalized and could possibly alter, sources told the publication. Giving fired employees a two-month severance package is one alternative being considered.
According to a source with knowledge of the layoffs, senior members of the product teams were required to fulfill a 50% workforce reduction. Staffers were added or spared from the layoff lists based on their contributions to Twitter’s code during their time at the social media platform, the sources said. Musk brought in managers and engineers from Tesla to review the layoff lists. Rumors of major layoffs have been swirling among Twitter staffers ever since Musk announced he was planning to purchase the social media company months ago.
The “Twitter Complaint Hotline Operator,” as Musk has now dubbed himself, will also announce a return-to-office policy for the remaining staffers at the company’s San Francisco headquarters — a reversal of Twitter’s current policy that allows staffers to work from anywhere, the sources said. Earlier on Wednesday Musk clapped back at verified Twitter users of the platform who complained about an $8-per-month service charge.
Musk’s decision to overhaul Twitter’s verification process with a subscription-based model has rankled many prominent figures this week, with famed author Stephen King among those who say they will not pay the fee. “To all complainers, please continue complaining, but it will cost $8,” Musk said in a tweet posted late Tuesday night.
“Totally stole idea of charging for insults & arguments from Monty Python tbh,” Musk added alongside a clip of the comedy troupe. The $8 monthly price tag is cheaper than the $20-per-month fee that Musk initially planned to charge, according to multiple reports. Musk has reportedly given Twitter’s developers until the end of the week to complete his overhaul of the “Twitter Blue” subscription service – with employees potentially facing the ax if they are unable to meet the deadline.
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