Mass Layoffs at Twitter: Nearly 50 Percent of Employees Lose Their Jobs

Since negotiations began regarding the purchase of Twitter, supporters and opponents of Elon Musk have been considering what the billionaire will do when he assumes a position of power. While recent information has emerged that Musk has fired the Twitter Board and appointed himself as CEO, a mass layoff of employees is currently anticipated.

The exact number of layoffs to follow is not yet known, but sources indicate that nearly 50 percent of the workforce, which currently numbers around 7,500 employees at Twitter, is expected to be laid off. However, this is not the only new decision from the American billionaire. Musk also plans to change the company’s current policy that allows remote work, with changes potentially taking effect as early as next week.

The news of the impending mass layoffs was first reported by Bloomberg, and the company itself was unavailable for comment.

Since Musk took over Twitter last week, he has already begun implementing his strategy, which includes round-the-clock work by employees on selected projects. One such project was announced on Wednesday. Twitter plans to offer a premium subscription service for $8 per month that will verify users, increase the visibility of their posts, and minimize advertisements.

Cost Cutting

At the end of last week, he revised the management team, resulting in the dismissal of Board members, including former CEO Parag Agrawal. Musk has also brought in a small group of trusted advisors, including his personal attorney Alex Spiro and investor David Sacks, to help him assess how best to run Twitter.

However, the billionaire does not rest even on weekends, as he requested certain managers and advisors last weekend to compile a list of whom to lay off. Some preempted him, such as customer support head Sarah Personette, who immediately resigned.

Cost-cutting comes at a rather interesting time as Musk faces concerns from advertisers, who account for the majority of Twitter’s revenue. Advertisers are worried that his plans to ease content moderation rules on the platform will lead to an increase in inappropriate content. Twitter claims that there has not yet been a change in policy and hopes for a smooth transition.

On Wednesday, Musk told the platform’s largest advertisers that he plans to offer brands different levels of content moderation and does not intend to eliminate content moderation roles on the platform, according to the Financial Times. The new moderation policy worries many, and another issue arises from Musk’s plan to restore user accounts that Twitter previously deleted, such as the account of Donald Trump.