Elon Musk to layoff more than 3,000 Twitter employees
Twitter’s new boss Elon Musk has laid off over 3,700 people globally, days after closing the deal to buy the social media giant for $44 billion.
Thousands of employees at the company have lost their jobs, with staff notified about the layoffs in an email on Thursday,
“Team, In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” the internal memo to the employees noted.
“We recognize that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success moving forward.”
Mr Musk has already made several changes to the company, starting with the firing of three of its top executives, including chief executive Parag Agrawal.
He had earlier told prospective investors that he intended to reduce the company’s staff from around 7,500 down to just over 2,000.
Bloomberg reported on Thursday that he planned to cut about 3,700 jobs on Twitter – about half the company’s workforce.
Elon Musk demands Twitter make $1bn in cuts
Elon Musk has directed Twitter teams to find up to $1 billion in annual infrastructure cost savings, Reuters reports.
The company is currently losing about $3 million a day “with all spending and revenue considered.”
It may cut server space, which is what ensures Twitter can maintain high traffic.
“(Musk) is willing to introduce that risk to meet these goals,” the person said.
The second source allegedly described the proposed cuts as “delusional,” and that when user traffic kicks up the service can fail “in spectacular ways.”
Adam Smith4 November 2022 16:00
Elon Musk has publicly aired his grievances against so-called “activists” drawing advertisers away, claiming they were cutting into its bottom line.
“Twitter has had a massive drop in revenue, due to activist groups pressing advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists. Extremely messed up! They’re trying to destroy free speech in America,” tweeted Mr Musk.
Adam Smith4 November 2022 15:30
Will governments remain verified?
The documents account for “government accounts to keep their Verified badge without paying for Blue”, according to internal documents.
Twitter Blue will also come with some other features: “You will also get: priority in replies, mentions & search, which is essential to defeat spam/scam; Ability to post long video & audio – half as many ads”, tweeted Mr Musk.
Adam Smith4 November 2022 15:17
Verification under Elon Musk
Twitter Blue subscribers would not need their identities authenticated to get the check mark, the New York Times reports.
Internal documents say there would be “an interim period where the check would be on both Blue subscribers accounts and previously verified users.”
Verified users that do not subscribe to Twitter Blue will lose the check marks.
There are currently over 423,000 verified accounts on Twitter.
Adam Smith4 November 2022 15:00
Twitter sued for mass layoffs
A class-action lawsuit has already been filed against Twitter.
The federal Worker Adjustment and Retraining Notification Act stops large companies from firing employees en masse without at least 60 days notice.
“We filed this lawsuit tonight in an attempt to make sure that employees are aware that they should not sign away their rights and that they have an avenue for pursuing their rights,” Shannon Liss-Riordan, the attorney who filed Thursday’s complaint, said, Bloomberg reports.
Adam Smith4 November 2022 14:30
Twitter exodus should ‘reshape industry’
Simon Balmain, a senior community manager for Twitter in the UK, told the BBC that he had been logged out of his work laptop and Slack.
“Everyone got an email saying that there was going to be a large reduction in headcount, and then around an hour later, folks started getting their laptops remotely wiped and access to Slack and Gmail revoked,” he said.
“I was working mostly LA (Los Angeles) hours because of the projects I was on, so was still awake when it happened.
He added the “exodus of talent” from this layoff will reshape the whole technology industry as we know it.
Adam Smith4 November 2022 14:00
Twitter employees ‘treated appallingly’
“Twitter is treating its people appallingly”, said Mike Clancy, general secretary of Prospect union.
“These are people who have invested their time, effort and enthusiasm in building the platform, which risks being thrown away.
“The government must make clear to Twitter’s new owners that we won’t accept a digital P&O and that no-one is above the law in the UK, including Big Tech barons. That must include making sure UK staff’s full employment rights are properly protected.
“We are supporting our members on Twitter and will be working with them to defend them and their livelihoods.
Adam Smith4 November 2022 13:30
ICYMI: Twitter may have lost over one million accounts since Elon Musk takeover
Twitter may have lost more than a million accounts since Tesla chief Elon Musk closed his deal to buy the microblogging platform for $44bn and took over the company, a new analysis suggests.
Since the Tesla titan took over Twitter on 27 October, over 850,000 accounts were deactivated and nearly 500,000 likely suspended, according to Bot Sentinel, a firm that tracks inauthentic behavior on Twitter, MIT Technology Review first reported.
“Based on our internal data, we estimate 877,000 Twitter accounts were deactivated, and a further 497,000 were suspended between October 27 and November 1. That’s more than double the usual number,” tweeted Bot Sentinel’s founder Christopher Bouzy, sharing a list of some of the accounts that were suspended or deactivated.
The company analyzed over 3.1 million accounts and their daily activity and found the proportion of them that were deactivated or suspended after Mr Musk’s takeover.
This number was then extended to Twitter’s overall user base of about 237 million “monetizable daily active users” to arrive at the figure of about 1 million users.
Adam Smith4 November 2022 13:00
Employees in the UK are waiting to be fired
Many Twitter employees in the UK have been locked out of their work accounts, without knowing if they have their jobs.
Updates will reportedly come by 4pm today.
Adam Smith4 November 2022 12:30
Twitter’s upcoming culture war?
An anonymous Twitter employee gave Business Insider an insight into what is happening in the company.
“It’s almost like I am in mourning. Up until last week, I was under the impression that most people inside the company felt the same way that I did. For the most part, I still am. But on Blind, it’s been nuts to me to see this small fact of newly-minted Elon acolytes suddenly rise up and try to make their voices heard. The amount of ass-kissing and the amount of bizarre Reddit, 4-chan-style stuff like ‘oh Elon, I’ll be your right hand’ on Blind, during those first days after the transaction closed — it was terrifying. I thought, ‘I don’t want to work with these clowns.’ Now, those pro-Elon voices have virtually disappeared from Blind. I have no idea what’s going on. Are the Elon loyalists still out there? I don’t think this group is in the majority, at least not yet. But I’m concerned that the next generation of people building Twitter won’t believe in the core of our mission. They’ll believe in Elon Musk.
“No one is telling us what Elon is actually like, but people seem obsessed with his celebrity. A lot of people seem tickled by the fact that this very famous person is in their presence.”
Adam Smith4 November 2022 12:01