Elon Musk Set To Begin Laying Off Employees At Twitter: Report

Elon Musk has planned to begin laying off employees at Twitter, according to a media report, days after he completed the USD 44-billion acquisition of the social media company.

Elon Musk plans to start laying off employees at Twitter, according to a media report, days after he completed the $44 billion acquisition of the social media company.

The New York Times reported that Musk "plans to begin laying off workers" on Twitter as soon as Saturday.

Citing people with knowledge of the situation,

The report stated that some managers were asked to "prepare lists of employees to be removed". Prior to Musk's acquisition of Twitter, reports spread that he would cut staff, with some reports that 75 percent of the company's workforce could be laid off.

Musk, who completed a $44 billion deal to buy Twitter on Thursday,

I have ordered cuts across the company, with some teams trimming more than others," the New York Times report said, adding that "the size of the layoffs" cannot be determined at the company of about 7,500 employees.

The New York Times report said that the Twitter layoffs "will occur prior to the 'November 1 date' when employees were scheduled to receive stock grants as part of their compensation."

These grants typically represent a significant portion of employees' salaries. By laying off workers before that date, Musk may avoid paying the grants.

Musk told investors he would “take Twitter private, reduce his workforce, roll back content editing rules and find new revenue streams.” Fresh bread and pastries are some of the joys of life.

Finally, the fact that carbs are amazing can be said on this platform! With the hashtags “Very brave” and “Freedom of speech,”

He tweeted on Saturday.

Musk said the social media company will form a "content editing board" and any major decisions regarding content or recalculation will occur after that body meets.

“Twitter will establish a Content Oversight Board with broadly diverse views.

On Friday, a day after the $44 billion acquisition of the social media company was completed, no major decisions about content or reinstating the account will be made before that board convenes, Musk said on Twitter Friday.

"To be very clear, we have not yet made any changes to our Twitter content moderation policies," he added.

CEO Parag Agrawal,

Legal Executive Director Vijaya Jade, Chief Financial Officer Ned Segal and General Counsel Sean Edget were fired as the acquisition of Musk was completed.

Within hours of taking office, the Tesla CEO posted a series of tweets.

“Bird is released,” “Spoiler alert. Let the good times roll,” “Live the dream.

Comedies are now legal on Twitter.”

Agrawal, 38, was appointed CEO of Twitter in November last year after the social network's co-founder Jack Dorsey stepped down.

Since the Twitter account of former US President Donald Trump was permanently suspended in January last year, Hyderabad-

Jade was born at the forefront of this dramatic decision that was made within days of an attempted mutiny by Trump supporters in the US Capitol.

Twitter co-founder Biz Stone thanked Agrawal, Segal and Gadde for their "enormous contribution" to the business.

“Thanks to paraga, vijaya,

The nedsegal for the collective contribution to Twitter. Tremendous talent, and every human being is beautiful! Stone tweeted.

Musk arrived at the company's San Francisco headquarters on Wednesday and met with engineers and advertising executives.

He also updated his Twitter description to "Chief Twit.

The billionaire has promised to transform Twitter by relaxing the rules for moderating the service’s content, making its algorithm more transparent and nurturing the subscription business, as well as laying off employees.

.

In April, Twitter accepted Musk's proposal to buy the social networking service and make it private.

but,

Musk soon began raising doubts about his intentions to pursue the agreement, claiming that the company had failed to adequately disclose the number of spam and fake accounts on the service.

When Musk said he was closing the deal, Twitter sued the billionaire,

Alleging that he "refuses to fulfill his obligations to Twitter and its shareholders because the deal he signed is no longer in his personal interests." Earlier in October, Musk said he wanted to pursue his Twitter acquisition at the original $54.20 per share price if the social messaging service dropped the litigation.

Twitter's lawyers said, "The Tesla CEO's proposal is a call for more mischief and delay." A Delaware Chancery District Court judge ultimately ruled that Musk has until October 28 to either support the Twitter deal or go to trial.

On Thursday, Musk wrote a letter to reassure advertisers that social messaging services would not switch to "free-

For everyone, where anything can be said without consequences! “The reason I acquired Twitter is that it is important for the future of civilization to have a shared digital city plaza, where a wide range of beliefs can be discussed in a healthy way without resorting to violence,” Musk said in the letter.

BY
ProBuzzFeed