Elon Musk wants to lay off three quarters of Twitter employees

Posted Oct 21, 2022 7:24 AMUpdated on Oct 21, 2022 at 9:41 am

Widely acclaimed by the shareholders of Twitter, Elon Musk is likely to cringe the employees of the social network. According to the “Washington Post”, the billionaire would have planned to lay off almost 75% of the employees.

The American daily says that the boss of Tesla and SpaceX has indicated to potential investors that he intends to reduce the company to some 2,000 employees. Against about 7,500 today.

Twitter’s less massive layoff plan

The diet promised by the multi-billionaire – a priori on the point, after months of economic and legal developments, of buying the social network for 44 billion dollars – is severe. Much more than the one that Twitter would have in its boxes if it did not pass into the lap of Elon Musk.

Also according to the “Washington Post”, the social network would thus plan to thank nearly a quarter of its staff by the end of 2023. This would allow it to reduce its payroll by some 800 million dollars. Information that the management of the social network would have denied. According to Reuters, Twitter’s general counsel, Sean Edgett, sent an email to employees saying the company is not planning any layoffs.

More face-to-face work

This is not the first time that Elon Musk has raised the threat of cutting the workforce of the social network. In mid-June, during a question and answer session with employees of the San Francisco company, he had already stressed the need for Tesla employees to work at least 40 hours a week face-to-face, for lack of they would lose their jobs.

Faced with the employees of Twitter, he then explained that he wanted to weigh in on the strategic orientations and the improvement of the products. If at the time he had not specified whether he intended to lay off employees, he had then mentioned the consideration of performance.

Ambitious goals

Measures according to him essential to achieve its ambitious objectives: to cumulate in the long term 1 billion users, against 230 million currently, and to diversify the sources of income. Even though, during his first offer last spring, Elon Musk said that his priority was not profitability but the defense of freedom of expression. He then recalled the importance in his eyes of a less strict moderation of content, within the limits defined by law. A conception that clashes with that of many employees of Twitter, associations and elected Democrats, who on the contrary ask social networks to better fight against hate speech, harassment and misinformation.

In any case, the soap opera of the takeover of Twitter by Elon Musk should experience a new stage by the end of the month. The judge who was to lead the lawsuit brought by the social network to Elon Musk adjourned the hearing which should have taken place this week, and gave the two parties until October 28 to conclude a new agreement.

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