The heads started to roll as soon as Musk took over, but the list may grow in the coming days. According to reports, the new owner ordered a company-wide lay off.
According to The New York Times, Musk has told managers to fire employees. Employees will get their stock grants on November 1st, which is when the layoffs are said to be happening. The grant accounts for a lot of employees' salaries, according to The Times.
The request for comment was not immediately responded to by the social networking site. According to reports, the CEO of the two companies told staff members that they would be terminated, but not as much as 75% of the total workforce.
There are currently 7,500 people working on the platform. Musk's rumored plan to reduce that headcount is seen as a way to avoid paying departing employees stock grants.
RECOMMENDED VIDEOS FOR YOU...
The top brass at the company were fired by Musk when he took over. The CEO, CFO, policy officer, and general counsel were all fired. The deal is said to have closed on Friday. The two men were escorted out of the San Francisco headquarters.
When Musk takes control of the company, he will change the service's moderation policies, but he hasn't shared any plans for the workforce. Many of the firm's employees may see a gloomy picture from the new report.
All Rights Reserved © 2024
