Twitter staff have been preparing themselves for massive layoffs since Elon Musk launched his takeover. According to reports, the website’s new owner and “Chief Twit” intends to lay off 3,700 people, reducing the company’s employment by half, in an attempt to slash expenses. Musk and a team of advisors are apparently still discussing the details of the layoffs, but one option they’re exploring is paying 60 days’ severance compensation to those let off. The boss might inform impacted employees as early as Friday.
Those who maintain employment may have to relearn how to operate from an office. According to reports, Musk also intends to abolish Twitter’s work-from-anywhere policy and require staff to go to offices, with limited exceptions. The newspaper previously stated that Twitter staff were concerned about the modifications Musk may bring to this policy even before he came aboard. It’s no secret that the CEO isn’t a fan of work-from-home arrangements, and he has issued an ultimatum to Tesla and SpaceX staff, requiring that they spend 40 hours a week in the office or quit.
Before Musk’s takeover of the social network began, rumors surfaced that he planned to fire 75 percent of the company’s employees. He allegedly rejected such figures when he visited Twitter’s headquarters in San Francisco, but it was evident that layoffs were still on the table. Musk’s first step after agreeing to buy Twitter was to remove previous CEO Parag Agrawal, Chief Financial Officer Ned Segal, and other key executives.
Over the weekend, more director and VP positions were eliminated, and those surviving Twitter workers in leadership roles were requested to compile names of staff people who may be let go. Those layoff lists were allegedly graded based on each individual’s contribution to Twitter’s programming, and Musk enlisted the assistance of Tesla’s directors and engineers to evaluate them.
Aside from ordering mass layoffs to save money, Musk is also making significant adjustments to gain money, such as boosting the price of Twitter Blue from $3 to $8 per month. According to reports, the new price may be implemented as early as Monday next week. The subscription will also be required for future blue verification badges, while users who are confirmed will have months to begin paying before losing their check mark.
