It's no secret that Elon Musk has a lot of plans for his newly acquired social networking site. The latest reports say that Twitter will now be laying off employees today, November 5, according to Engadget. This news has been looming over the heads of the platform's 7,500 staff, and now it has finally come.
The Tesla CEO has already started with former Twitter CEO Parag Agrawal, and CFO Ned Segal. In the last week, several other executives have also left the company. The employees have received an email, saying that although many have made valuable contributions to Twitter, the action was necessary to ensure the company's success.
Anticipation of the Employees
Employees have to wait for the email that notifies them if they were among the "impacted." The lucky ones will receive the news via work email, with the subject line "Your Role at Twitter." As for the others, they will be contacted through their personal email, wherein the next steps to take will be instructed.
The company claims that the workforce reduction is meant to put Twitter on a "healthy path." On the other hand, a Twitter employee expressed that the notification email was the first time they heard from the company, since the acquisition. They added that it brought total chaos as everyone looked toward the email.
However, some already wish to be laid off for the severance check. There are those who are afraid to disagree with Musk, since this could cost them their job and severance. One even said that at the end of all the nightmare, there better be a cash prize, as mentioned in NBC News.
The Aftermath of the Acquisition
From the Twitter vs. Musk court battle to the actual purchase, it has been a whirlwind for those keeping tabs. The company owes $1 billion in interest payments, which Musk accumulated when he bought Twitter. The company has also reported a $270 million net loss in this year's second quarter.
The platform needs to catch up quickly, yet major advertisers are starting to get doubtful with the new head of Twitter. Musk reassured the advertisers saying that the platform will not become a "free-for-all hellscape." He told the European Union as well, that he would comply with its Digital Services Act. Otherwise, the company will be penalized for not controlling illegal content.
The SpaceX CEO is an advocate of free speech, and plans to run Twitter with that in mind. But, among his plans, he aims to add a content-moderation council. Musk also wants to implement the $8 per month subscription for Twitter Blue, to retain a user's verification status.
These are attempts to increase the platform's revenue. He is also quite adamant about it on Twitter. He even posted a meme implying that people are quick to buy an $8 coffee drink, but can't pay for the monthly subscription. One tweet even expressed that people can keep complaining, but the subscription will still cost $8.
