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Tuesday, December 6, 2022

Twitter: Elon Musk announced the dismissal of 3,700 employees, half of the workforce

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This new wave of dismissals joins the dismissal of four of the main managers: the executive director, Parag Agrawal; chief financial officer Ned Segal; General Counsel Sean Edgett; and the legal director, Vijaya Gadde.

Upon taking control of Twitter, he asked department heads to make lists of employees who could be fired.

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In addition, the employer also aims to demand face-to-face work in the office starting this Monday. Until now, Twitter’s policy allowed its employees to telework from anywhere. The bulk of the employees who are going to be fired will in no case receive such generous compensation. In one of the scenarios being studied, workers would be offered 60 days’ pay, according to sources cited by Bloomberg.

According to the aforementioned newspaper, Musk is determined to reduce costs after buying Twitter for $44,000. The South African tycoon is convinced that he overpaid for the social network. The company is also facing a possible loss of advertising revenue. General Motors has announced that it is suspending its advertising on the network; L’Oréal has made the same decision, as published by the Financial Times, and many others are expectant before the possible drift of the network, where racist, sexist and homophobic messages skyrocketed as soon as the purchase was closed, even before the content moderation policy was changed.

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Source: Ambito

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