Twitter lays off half of its staff, while Elon Musk promises the company is “losing $4 million a day”
- BBC News World
Thousands of layoffs, a drop in revenue and accusations.
That’s the scene this Friday at Twitter, the social network that billionaire Elon Musk bought a week ago after months of contentious negotiations.
As part of a money-saving plan, the social network was eliminated About 50% of the 7,500 employees What in the world do you have?
“Regarding Twitter downsizing, unfortunately the company has no choice when it’s losing $4 million a day,” Musk said in a tweet late Friday.
He also said that all those who left will be compensated for 3 months.
Earlier, Musk accused “Activist Groups Pressuring Advertisers” “Massive drop in income”.
The site’s new owner tweeted that “activists” raising concerns about how Twitter is managed are “trying to destroy free speech in America.”
Cuts “unfortunately necessary”
An internal email sent to employees on Friday said the massive job cuts were “regrettably necessary”. Guarantee the future success of the company“.
Twitter employees confirmed that their profiles were disconnected from work laptops and from the messaging system Slack.
Several employees revealed layoffs in positions on the platform, painting a picture of cuts affecting departments ranging from marketing to engineering.
This includes personnel from communications, content monitoring and product development.
Focus group Research on how Twitter uses algorithmsAccording to a tweet from a former manager of the company, Musk’s preferred title was also removed.
But it was later denied.
Yoel Roth said Friday afternoon that most of the more than 2,000 content moderators were “not working on pre-order review” because of the cuts.
Leakage of advertisers
Almost all of Twitter’s revenue today comes from this Advertising.
Volkswagen is among the brands that have stopped investing in social media since Musk bought the company.
“We are monitoring the situation closely and will decide on next steps depending on its evolution,” Europe’s largest automaker said.
On Thursday, food manufacturer General Mills, which owns brands like Cheerios and Lucky Charms, did the same.
He said he continues to monitor the social media company’s “new direction” and wants to “evaluate [su] Marketing cost.
Other brands that have stopped paying for advertising on the platform include automakers General Motors and Audi and pharmaceutical giant Pfizer.
Online safety groups and activists expressed Concerns about Musk’s plansLoosen content ratings and replace permanent bans Controversial figures including former US President Donald Trump have been given Twitter awards.
Musk is looking at ways to cut costs and make money in different ways, including plans to charge users a monthly subscription fee to verify on the platform.
He also proposed that those who pay an $8-a-month fee would see their tweets promoted more in replies, mentions and searches, prompting criticism from some on Twitter that he was creating a two-tiered system. Off.
Musk tweeted about his plan: “We gotta pay the bills somehow.”
But Brandon Borman, Twitter’s former head of global communications, questioned in an interview with the BBC how Twitter could justify paying people to be on a “level playing field” with other users.
Twitter Not receiving benefits Over the years its number of users has stagnated at around 300 million a month.
Many experts say Musk, the world’s richest man, paid too much for the company given current economic conditions and the depressed valuations of many tech stocks.
Class action lawsuit
Twitter employees filed a class-action lawsuit on Thursday, arguing that the company is making major job cuts without providing a job offer. 60 day noticeViolates federal and California law.
The suit asked a federal court in San Francisco to stop Twitter from asking fired employees to sign documents waiving their rights without notifying them of the court case.
“We are filing this federal complaint to ensure Twitter is accountable to our laws and to understand the rights of Twitter employees,” said Shannon Liss-Riordan, the attorney coordinating the case.
The BBC tried to contact the Twitter address, but received no response.
It’s unclear how the cuts will affect the site’s operations. Kasturi has a reputation for being ruthless when it comes to employees.
US media reports are already talking about Musk’s staff spending long hours following his inauguration.
In May, Musk said Expectations of your work ethic will be “extreme.”But less than he claims of himself.
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