Elon Musk reportedly laid off at least 4,400 contract workers at the company after firing about 3,800 people, or almost 50% of Twitter’s employment.
Twitter, the Elon Musk-led social media giant, is said to have made layoffs in addition to earlier firing close to 50% of its staff. Elon Musk reportedly laid off at least 4,400 contract workers at the company after firing about 3,800 people, or almost 50% of Twitter’s employment.
According to Platformer and Axios, the microblogging service is currently firing its contract employees. Platformer Casey Newton’s tweet read that contractors were no longer being able to access Slack and email without any prior notice. Once employees abruptly disappeared from the system, managers realized what was going on.
The second round of layoffs that began over the weekend received no response from either Twitter or Musk. In fact, it may be mentioned that many discovered they were no longer employed by the firm when they suddenly lost access to the internal systems of Twitter.
According to a report by NBC News, some of Twitter’s contract employees were based abroad, including in India and other countries.
According to a report by NBC News, some of Twitter’s contract employees were based abroad, including in India and other countries. According to the report, full-time employees who sought to remain anonymous because they lacked the authority to speak on Twitter’s behalf said they had received no internal notification before the contractors they worked with were fired. The report alleged that Twitter fired its entire internal communications team as well.
At the time of these latest layoffs at Twitter, the micro-blogging service has already fired close to 50% of its whole workforce and close to 90% of its India team. According to Elon Musk, the employment cuts have apparently been made in an effort to turn around Twitter’s daily, massive loss.
Although media outlets could not confirm the specific reasons why Twitter’s contract employees were fired, in the near future, it’s expected that the working style of the company will undergo more changes. Meanwhile, Bloomberg news agency reported that after firing over half of its workforce, Twitter Inc. has now reversed course and is requesting that a number of those workers return.
A source familiar with the matter, who asked to remain anonymous because they were discussing private matters said that Some of the people who have been asked to return were unintentionally laid off. Before management discovered that their effort and experience could be required to develop additional features, other people were fired.
A source with knowledge of the situation claims Elon Musk warned that bankruptcy may be an option if Twitter Inc. doesn’t start generating more revenue in his first speech to the company’s employees since purchasing it for $44 billion
A source with knowledge of the situation claims Elon Musk warned that bankruptcy may be an option if Twitter Inc. doesn’t start generating more revenue in his first speech to the company’s employees since purchasing it for $44 billion. The warning occurred amid a rocky beginning to Musk’s leadership at the social media company, which spanned a two-week period during which he dismissed half of Twitter’s staffers, dismissed the majority of the senior executives, and ordered the remaining staff to stop working from home.
Robin Wheeler and Yoel Roth, two executives who up until today had appeared as members of Musk’s new leadership team, are also on their way out, according to sources with knowledge of the situation.
Elon Musk, finalised the $44 billion acquisition of Twitter on October 27. Later, along with the CFO and a few other senior executives, he had sacked the CEO, Parag Agrawal.
The world’s richest person, Elon Musk, finalised the $44 billion acquisition of Twitter on October 27. Later, along with the CFO and a few other senior executives, he had sacked the CEO, Parag Agrawal. Elon Musk said that the company is losing more than $4M per day in order to justify the layoffs. All departing employees received a 3 month severance package, according to Musk. The company had also issued internal email to its employees which stated that in an effort to put Twitter on a healthy path, they will begin the challenging process of decreasing our global staff.
There are currently other companies announcing mass layoffs; Twitter is not the first nor the only one. Recently, Meta, the parent company of Facebook, announced huge layoffs as well, sacking 11,000 workers, or nearly 13% of its staff.
Credit Suisse, the second-largest bank in Switzerland, revealed plans to fire 9,000 workers, and Microsoft also announced two rounds of layoffs. Among the businesses that have laid off many staff recently are tech giant Intel, the automaker Ford, the US banking behemoth Goldman Sachs, the parent company of Snapchat, Snap Inc., and Elon Musk’s electric vehicle manufacturer Tesla.