When business tycoon Elon Musk completed his $44 billion Twitter purchase, he wasted no time overhauling the company. One is the dismissal of CEO Parag Agrawal, CFO Ned Segal, and head of legal policy Vijay Gadde.
“Head Twit” has yet to finish replenishing Twitter’s workforce, as the popular microblogging site reportedly will begin laying off employees on Friday. According to a report by The Washington Post, about half of Twitter’s employees are still unemployed.
The email, from a public address and signed by Twitter, told employees to go home and stay away from the office on Friday as layoffs continue. “As we strive to get Twitter back on a healthy path, we will go through the difficult process of reducing our global workforce,” he said in the email. We understand this will impact some of the people who make valuable contributions to Twitter, but unfortunately this action is necessary to ensure the company’s success.”
Recruits will receive an email with the subject “Your role in Twitter” in their business email. On the other hand, Twitter will be contacted via personal email to discuss the next steps with those taken.
The layoffs are part of Musk’s moves to make Twitter more profitable. The businessman took on $13 billion in Twitter debt for the acquisition and has to pay around $1 billion in interest annually. Musk gave users the option to wear a blue checkmark for $8 a month, as he said Twitter can’t fully trust advertisers and has to “pay the bills somehow.” Source
Source: Port Altele
John Wilkes is a seasoned journalist and author at Div Bracket. He specializes in covering trending news across a wide range of topics, from politics to entertainment and everything in between.
