February 8, 2023

Musk sets his welcoming steps with fire in Twitter – at least 75 per cent to be laid off.

Musk plans to lay at least 75 percent of the workers at the company before 1st November

After the takeover of Twitter, Elon Musk starts laying off employees of Twitter. Musk asked some managers to come up with a list pf employees to be removed from Twitter. Ahead of Musk’s acquisition of Twitter, reports were circulating that he will cut headcount, with some reports saying 75 per cent of the workforce at the company could be laid off.

“Musk, who completed a USD 44-billion deal to buy Twitter on Thursday, has ordered the cuts across the company, with some teams to be trimmed more than others,” the NYT report said, adding that the “scale of the layoffs could not be determined” at the company, which has around 7,500 employees.

Image Source- the indian express

The NYT report said that the layoffs at Twitter “would take place before” the November 1 date when “employees were scheduled to receive stock grants as part of their compensation.

Such grants typically represent a significant portion of employees’ pay. By laying off workers before that spevified date, Musk “may avoid paying the grants.” Ever since the taking up of Twitter news has arisen since April, Musk has told investors that he would take Twitter private, reduce its work force, roll back its content moderation rules and find new revenue streams.

Musk has said the social media company will form a “content moderation council” and any major content decisions or account reinstatements will happen after such a body has convened.”To be super clear, we have not yet made any changes to Twitter’s content moderation policies,” he added.

After formally taking over Twitter, Musk took no rest and sacked top executives CEO Parag Agrawal, legal executive Vijaya Gadde, Chief Financial Officer Ned Segal and General Counsel Sean Edgett.

In recent weeks, Musk has hinted at his staffing priorities, saying he wants to focus on the core product. “Software engineering, server operations & design will rule the roost,” he tweeted in early October. Some staff were invited to a staff meeting next Wednesday; some weren’t, according to people familiar with the matter. That generated suspicion around which teams will be cut.

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