Twitter has undertaken major layoffs
New management under Elon Musk will begin layoffs on Friday morning, per an internal message delivered to Twitter staff. Since before Musk’s takeover, rumors have circulated about layoffs, and the most recent story claims that 5,000 of the company’s 7,500 employees will be let go.
On Thursday night, all staff members were notified via email that they will be given their employment status at 9 a.m. PT on Friday. The subject line of each email will read “Your Role at Twitter.” Notifications of continued employment will be sent to an employee’s work email; those of termination will be sent to an employee’s personal email.
Our offices will be closed and badge access will be temporarily suspended to assist safeguard the safety of each employee as well as Twitter systems and customer data, according to the email. Please go back home if you are currently in or on your way to an office.
Twitter” was all that was attached to the impersonal email.
An internal Slack channel has reportedly been inundated with blue heart emojis from Twitter employees as they wait to know their fate tomorrow. (The tweet has been removed since this update.)
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Musk’s team has already made an attempt to gauge Twitter’s output by having developers print out their most recent 30-60 days’ worth of code. To inspect the Twitter code, Musk also enlisted the help of Tesla experts.
But it’s still unclear which parts of the corporation may be affected. Musk fired the whole public relations department at Tesla a few years ago, so it stands to reason that he will do the same at Twitter.
As part of the deal to acquire Twitter, Musk had the firm incur $13 billion in bank debt, which equates to annual interest payments of almost $1 billion.
Platformer claims that by the end of the year, Twitter would discontinue its newsletter service, Revue. In January of 2021, Twitter paid an undisclosed sum to acquire Revue. The long-form posting feature Notes and Twitter’s plans to develop cryptocurrency wallets are reportedly on hold.
CEO Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett, and Head of Legal Policy, Trust and Safety Vijaya Gadde were all let go by Musk inside the first week of his tenure. Sarah Personette, Twitter’s Chief Consumer Officer, and Dalana Brand, Twitter’s Chief of People and Diversity, both resigned the following day.
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