Elon Musk reportedly plans to cut half of Twitter jobs to cut costs

Elon Musk is the one who’s had a quiet few months… right? Shortly after becoming the owner of Twitter, the mogul was (and continues to be) full of the changes that are coming to the social network. One of them seems to be the (halving) of jobs.

Who are the people working in Twitter (and for Elon Musk) this month ? With so many changes, rumors and uncertainties, they have to wink. More than anything with the future plans that the tycoon has for the social network. This time, it seems to be the employees’ turn to fasten their seat belts, since Musk That would cut jobs in half.

According to Bloomberg, Elon Musk plans to cut around 3,700 jobs in Twitter, or half of the company’s workforce. Because? To try to cut costs after the $44 billion acquisition. Moreover, the same media reported that the tycoon would like to reverse the current policy of Twitter of “work from anywhereand would ask employees to report to the offices.

Elon MuskTwitter

Yes OK Musk and a team of advisors have various scenarios of job cuts and other policy changes in mind in Twitter, the terms of the workforce reduction remain to be determined. Under one such scenario, laid-off workers “would have 60 days of severance pay”.

However, after resolving the issue of layoffs, the accounting director of Twitter, Robert Kaidenwill leave the company, becoming one of the last senior executives (before Musk) starting. Remember that the former general manager has already left Parag Agrawalthe financial director Ned Segal and senior legal staff Vijaya Gadde and Sean Edgett. In the days that followed, the marketing director also left the social network Leslie Berlandcustomer service manager Sarah Personette and Jean-Philippe Maheu, who was vice president of global client solutions.

Elon MuskTwitter

layoffs in Twitter seems to be the answer you found Elon Musk to lighten and reduce the costs of a company for which he says he overpaid. Recall that the billionaire agreed to pay 54.20 dollars per share in April, while the markets collapsed.

According to the aforementioned media, they would have asked other business leaders to make lists of employees from their teams who could be eliminated. These would be assessed by the You’re here and the managers of Twitter and rank them according to people’s contributions to the code of Twitter during his time with the company.

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Worries over huge job cuts aren’t new, they started before Musk complete the purchase of Twitter. One of the rumors said that instead of cutting half the jobs, they would eliminate 75% of the workforce. However, Musk denied that the cuts would be so strong.

Another of the rumors denied by Elon Musk was on a New York Times report that said layoffs in Twitter would take place before November 1 to avoid scheduled equity grant payments. The billionaire tweeted that it was “fake”.

Despite Musk He has yet to specify how he will reshape the social network, the mogul said last month that he wanted to focus on the main product and that “software engineering, operations and server design will dominate”. In addition to that, everything indicates that his priority is to recover the money he spent on the acquisition. Let’s remember that Twitter will soon start charging $8 for verification.

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