Twitter to make job cuts after Elon Musk takeover

Image source, Getty Images

The staff of the firm will be told on Friday if they will be laid off.

The company said in an internal email that the cuts are an effort to place the company on a good path.

Badge access would be suspended and offices would be temporarily closed, according to the firm.

After buying the company last week, the multi-billionaire will be the CEO.

The email said that they would go through a difficult process of reducing their global workforce on Friday.

This action is necessary to ensure the company's success moving forward, but we know this will impact a number of individuals who have made valuable contributions to the company.

Office access will be limited to help ensure the safety of employees as well as the systems and customer data.

The email with the subject "Your Role atTwitter" will be sent to all staff by Friday.

Workers who are not affected will be informed through email.

Those who are affected will be informed of the news through their personal accounts.

Due to the nature of our distributed workforce and our desire to inform impacted individuals as quickly as possible, we will communicate via email.

According to reports in the US, Mr Musk was planning to cut about half of the workforce at his company.

Some senior staff were told to make lists of employees to be cut from their teams, according to a report.

As a result of Mr Musk's takeover, the platform invested in the social networking site. A slimmer workforce would make more sense according to Changpeng Zhao.

Mr Zhao was speaking at the Web Summit in Lisbon and he criticized the platform for being slow in rolling out new features.

The cost-cutting is in response to the criticism of the proposal to charge $8 a month for a blue check-mark.

Those who pay for the verification badges could see fewer ads and have their Tweets promoted more widely.

Mr Musk said that they need to pay the bills.

Despite not making a profit in several years, the number of users has not changed.

Many experts think that Mr Musk paid too much for the company because of the depressed values of many tech stocks.

Brandon Borrman questioned the logic of asking people to pay in order to stay on an equal playing field.

The platform's operations are not clear. Reports in the US say that some staff spent hours meeting Mr Musk's demands after the takeover.

Mr Musk said his work ethic expectations would be less than he wanted.

Also, work ethic expectations would be extreme, but much less than I demand of myself

— Elon Musk (@elonmusk) May 7, 2022

Nine members of the company's board left as part of the takeover agreement, leaving Mr Musk as the sole director.

The move cements Mr Musk's control over the company

Among those who left were the chairman and the CEO.

Ned Segal, the chief financial officer, is said to have left.

Thursday concluded 5 years @twitter. I’m grateful for the opportunity to have worked with such an incredible group of people building the world’s town square for all of our stakeholders. The work isn’t complete, but we made meaningful progress.

— Ned Segal (@nedsegal) October 28, 2022

The US media reported that a number of Mr Musk's allies joined the social networking site.