After closing a $44 Billion Twitter acquisition deal, Elon Musk is completely revamping the platform. Right after the public announcement of the takeover, Elon Musk fired the Top Twitter executives, including Parag Agrawal (CEO), Ned Segal (CFO), and Vijaya Gadde (legal chief); interestingly, two of them were Indians.
After the takeover, Elon entered the Twitter HQ with a sink to interpret that I was the new boss and ‘let that sink in,’ The post was making rounds on the internet.
The layoffs and significant changes in the platform didn’t stop here; Elon musk also confirmed that you have to pay $8 monthly for the verification badge on Twitter.
To all complainers, please continue complaining, but it will cost $8
— Elon Musk (@elonmusk) November 2, 2022
Furthermore, it was also reported on Friday that around 50% of the Twitter employees were laid off over email, and it was a game like you will find out on Friday morning whether you are still working for twitter or not as it was notified a day before;
“If your employment is not impacted, you will receive a notification via your Twitter email. If your employment is impacted, you will receive a notification with the next steps via your personal email.”
It is reported that most of the Twitter offices in India are closed now, causing around 83% of Indian staff to be laid off, including Indian engineers, communication, and support staff working in Twitter India offices.
Twitter had 300 employees in India, and almost 250 employees across all the functions were fired on Friday! Many took the matter to Twitter (irony) and confirmed that they are impacted due to the ongoing layoffs and no longer working for Twitter.
https://twitter.com/yashagarwalm/status/1588405497988018179?t=L66CrlnYGfMp0DIS4Rli_Q&s=19
The reason given by the new CEO for the significant closure of the Twitter offices around the globe is that Twitter is barely making any profits and losing $4 million daily, which led to these short layoffs and cutting infrastructure costs.
Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.
Everyone exited was offered 3 months of severance, which is 50% more than legally required.
— Elon Musk (@elonmusk) November 4, 2022
It will be interesting to see how these significant changes will affect Twitter as a platform and whether they will make the perception of Twitter as a positive medium for sharing your thoughts or the opposite. What are your thoughts about this? Let us know in the comment section below.
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