12.3 C
Auckland
Tuesday, June 18, 2024

Popular Now

Elon Musk to fire half of Twitter’s staff – Bloomberg

Twitter staff cuts news

The new owner plans to cut about 3,700 jobs, according to the news outlet.

Twitter’s new owner Elon Musk plans to lay off about half of the social media company’s employees in an effort to cut costs, Bloomberg reported on Wednesday, citing sources.

According to the report, the cuts will affect about 3,700 of Twitter’s 7,500 staff. Employees being let go will reportedly be informed of the decision this Friday. Those who remain will be asked to stop working remotely and return to the office, although some exceptions are planned to be made. The measures are reportedly aimed at reducing company costs.

While options for the job cuts are reportedly still being discussed, one of the scenarios entails those let go being offered 60 days’ severance pay.

After his acquisition of the social media platform on October 27 for a staggering $44 billion, Musk already fired much of Twitter’s executive team, including CEO Parag Agrawal, finance chief Ned Segal and senior legal staffers Vijaya Gadde and Sean Edgett, among others.

The lists for job cuts were reportedly compiled based on workers’ contributions to Twitter’s code during their employment. Musk recently said he plans to focus on Twitter’s core product.

“Software engineering, server operations & design will rule the roost,” he tweeted last month.

He also said he plans to change the way Twitter operates in order to generate more revenue. Earlier this week, he announced that the platform would soon start charging for user verification.

Promoted Content

Source:RT News

No login required to comment. Name, email and web site fields are optional. Please keep comments respectful, civil and constructive. Moderation times can vary from a few minutes to a few hours. Comments may also be scanned periodically by Artificial Intelligence to eliminate trolls and spam.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Trending

Sport

Daily Life

Opinion

Wellington
light rain
11.1 ° C
11.8 °
9.4 °
93 %
10.3kmh
75 %
Mon
12 °
Tue
13 °
Wed
11 °
Thu
12 °
Fri
12 °