Elon Musk to Announce Job Cuts Friday – Potentially 50% of Staff – Update, They’re Suing

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Update: Twitter was sued over Elon Musk’s plan to lay off about half of its workforce, Bloomberg News reported on Friday, citing a class-action lawsuit filed in a San Francisco federal court.

Twitter employees say the company is eliminating workers without enough notice in violation of federal and California law, the report said.

ORIGINAL STORY

Elon Musk is overhauling Twitter with help from Tesla staff, one week after he took over the social media platform. You can tell he’s been giving this a lot of thought.

The company notified staff in an email of the upcoming cuts but didn’t spell out the extent of the cuts. According to the email, Twitter had more than 7,500 employees starting this year.

Rumors are that 50% of the staff could be let go.

REMOTES GOT TO GO

He’s ending remote work for anyone who’s left. About 1500 employees work remotely. When Musk first looked into buying Twitter, employees said they wouldn’t come in and he said he’d fire them.

In June, Musk held a virtual town hall with Twitter staff where he reportedly said he would let “exceptional” employees work at home if he completed his then-pending acquisition of the social network. “If someone can only work remotely, and they’re exceptional, it wouldn’t make sense to fire them,” he said.

Bloomberg said he’s planning to cut 3700, about 50%, beginning Friday morning to cut costs.

According to Bloomberg, Musk and a team of advisers are still reportedly in the midst of finalizing the terms for the layoffs, but one option they’re considering is offering the people they let go 60 days’ of severance pay.

According to Yahoo News, Musk also scrapped the “days of rest” from the Twitter calendar.

TOP HEAVY ADMINISTRATION IS WHITTLED DOWN

Musk fired top executives, including Parag Agriwal, who is opposed to free speech, Ned Segal, and Vijay Gadde. Other executives and VPs were fired over the weekend. Remaining executives were told to draw up lists of people who can be let go. Those 50% layoff lists were reportedly ranked based on each individual’s contribution to Twitter’s code, and Musk asked help from Tesla’s directors and engineers to assess them.

Musk made clear that he wants coders, not a top heavy administration.

The Chief Twit is also implementing huge changes to make money, such as raising the price of Twitter Blue to $8 a month from $3. Bloomberg says the new pricing could go live as soon as Monday next week. The subscription will also be a requirement for blue verification badges going forward, though users who are already verified will be given months to start paying before they lose their check mark.

A lot of people who make money having the blue check are too cheap to pay the $8, such as Stephen King and that David Hogg boy who pretends he’s a Parkland shooting survivor.

 


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