24hoursworld

Twitter fired half of its employees

Twitter fired half of its employees

Roth said 15 percent of his team, which is responsible for preventing the spread of misinformation and harmful content, has been affected by the takedown. It was Twitter’s first confirmation of the extent of the layoffs.

“Everyone who was laid off was offered three months’ severance,” Musk tweeted. Around 3,700 employees across the company are affected. Workers in the US filed a class action lawsuit against Twitter on Thursday. They accuse the company of failing to comply with the 60-day period required for mass redundancies. It violates California and federal law.

Laid-off employees received emails on Friday, as announced, saying it was their last day at the company, financial service Bloomberg reported. Tweets from previous employees reporting on their termination increased on Twitter.

Yoel Roth assured that the content of the tweets would be further monitored. The notice is intended to reassure users and advertisers after the company was taken over by billionaire Elon Musk. Musk also tweeted shortly after Roth: “To put it bluntly again, Twitter’s strong commitment to content control remains absolutely unchanged.”

Advertisers withdraw

Regarding the job cuts, the company boss reported that he unfortunately saw no other choice because the company was losing four million dollars a day. He previously wrote that Twitter had “suffered a massive drop in revenue” as civil rights groups raised concerns about how the layoffs would affect freedom of expression. Key advertisers have been pressured to withdraw their advertising spend. At an investor conference in New York on Friday, Musk described the pressure from activists as “an attack on the First Amendment.”

In fact, advertisers are keeping their distance from Twitter. United Airlines joins the list of companies to stop advertising spend on Twitter, an airline spokeswoman confirmed late Friday. The carmaker Audi and the food giant General Mills previously put their advertising bookings on the social media platform on hold. “We will continue to monitor this new direction and review our marketing spend,” said a General Mills spokesman. Twitter recently generated more than 90 percent of its income from advertising. The carmaker GM had already suspended its paid advertising circuits on Twitter.

According to a report by the “Wall Street Journal”, the food company Mondelez and the pharmaceutical giant Pfizer also no longer want to advertise on Twitter for the time being. The companies and Twitter initially did not comment on this.

Meanwhile, Musk threatened to publicly embarrass advertisers who stopped showing ads on Twitter. With his tweet on Saturday night, the new Twitter owner responded to a right-wing lobbyist’s suggestion that he should name the advertisers “so that we can subject them to a counter-boycott”. Musk wrote in his reply, “Thanks. A thermonuclear naming and shaming is exactly what will happen if this doesn’t stop.”

Musk completed the purchase of Twitter for around $44 billion last week and, among other things, took on debt that has to be serviced. Ad revenue accounts for nearly all of Twitter’s revenue, making its decline particularly painful.

Twitter began downsizing after Musk took over the company on Friday.

Source: Nachrichten

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

Pros & Cons: Do we need the beer party?

Pros & Cons: Do we need the beer party?

“It would be like going to parent-teacher conference without having a child.” – Beer Party leader Dominik Wlazny defends non-participation in meetings of the district