Elon Musk to Fire 50% of Twitter Workforce, According to Report
2022 marks the best year for Twitter’s workforce growth, but that will no longer be the case as Elon Musk is set on firing half of Twitter’s workforce, according to a Bloomberg report. Musk has been discussing cutting Twitter’s workforce since his interest in Twitter first came to light, but unfortunately for Twitter's employees, those discussions will soon become a reality.
Also read:
What We Can Expect From an Elon Musk-Led Twitter
Everything You Need to Know About X, Elon Musk's Social Media Project
According to the report, Musk is expected to fire half of Twitter’s 7,500-strong workforce for cost-cutting purposes. Senior executives and advisors—who haven’t been fired yet—have been informed, and management is discussing the possibility of 60 days worth of severance pay. The remaining workers will also be expected to return to the office full-time, putting an end to Twitter’s flexible work-from-home policy.
You will find more infographics at Statista
News of this massive workforce cut comes after the exodus of Twitter’s top executives. After Musk fired Twitter’s CEO, CFO, and other top officials, five top executives stepped down from their roles. These include Twitter’s former CMO, head of product, and chief customer officer.
Outside of the workforce, advertisers—which supply Twitter with 90 percent of its revenue—are also considering jumping ship as many are reportedly “spooked” by Musk’s plans to relax Twitter’s content rules. IPG, one of the world’s largest advertising companies, has voiced its concerns about the possibility of increased misinformation caused by lax moderation rules.
This all took place just one week after Elon Musk took control of Twitter after finally shelling out $44 billion in a private deal. More changes are expected to be made as Musk works to overhaul Twitter to align with his new vision for the company. User-centric changes are already in the works, namely the $8 charge for the Twitter Blue verification service that will come with fewer ads.
Only time will tell what other changes Twitter will face now thanks to its new Chief Twit.
.jpg)