Twitter layoffs begin a week after Elon Musk’s $44 billion acquisition

Twitter employees prepared for widespread layoffs on Friday as part of a sweeping overhaul of the social platform’s new owner, Elon Musk.

In a letter to employees obtained by several media outlets, the company said workers would know by 9 a.m. Pacific Standard Time if they had been laid off. The email did not say how many people would lose their jobs.

“Everyone will receive a personalized email with the subject line: Your role on Twitter,” read the notice. Employees who receive the note on their Twitter company email can expect to keep their jobs, while those who receive it on their personal email will see the notice read.

The email to employees stated that “job cuts are necessary to further the company’s success.”

Some employees tweeted early Friday that they had already lost access to their work accounts. He and others tweeted messages of support using the hashtag #OneTeam.

“Looks like you’re all unemployed. Just remotely logged out of my work laptop and removed from Slack,” says Simon Balmain, a former community manager based in the UK, tweeted, “So sad it had to end like this.”

According to reports from Reuters and other media outlets, Musk wants to cut as many layoffs as possible. half of twitter With approximately 7,500 employees, he wants to make the social media platform profitable.

Already, billionaire Tesla CEO has fired top executives including CEO Parag Agarwal on his first day as owner of Twitter. He also removed the company’s board of directors and established himself as the sole board member. their plans include charging $8 per month For users to display a blue “Verified” checkmark for their online identity to indicate who they are in real life and increase subscription revenue so Twitter relies less on advertising.

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Plus, major advertisers has stopped His Twitter ad as they wait to see how the company develops under Musk. He has called himself a “free speech autocrat” and has pledged to lift the ban on prominent figures, including Former President Donald TrumpAs the head of Twitter.

Many are concerned that this overhaul will lead to an explosion of hate speech and spam on the platform. Within just 12 hours after Musk’s purchase was finalized on Friday, New Jersey-based firm Princeton, according to an analysis conducted by the Network’s Contagion Research Institute, showed signs of a specific racism used to degrade black people. There was an increase of 500% in terms. Misinformation.

no public notice

As of Thursday, Musk and Twitter had not given any public notice of the upcoming layoffs. Even though the Employee Adjustment and Retraining Notification statute requires employers with at least 100 workers to disclose layoffs involving 500 or more employees, a company may be publicly traded or privately held. has been done

Barry White, a spokesman for the California Department of Employment Development, told the Associated Press on Thursday that the agency had not received any such information from Twitter.

A class action lawsuit was filed in federal court in San Francisco on Thursday on behalf of an employee who was laid off and three others who were taken out of their work accounts. It alleges that Twitter wants to lay off more employees and violated the law by not giving the required notice.

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Layoffs are a tough time for social media companies, as advertisers are holding back and newcomers – mainly TikTok – are threatening the older class of social media platforms like Twitter and Facebook.

Facebook’s parent company Meta Platforms Inc. recently reported its second quarter revenue decline in history and its shares are trading at their level. lowest level since 2015, Meta’s disappointing results came after reports of weak earnings from Google’s parent company Alphabet and even Microsoft.

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