BackExtremely messed up: Elon Musk throws another bombshell amid Twitter layoff controversy
Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, Musk claimed
PremiumTwitter boss Elon Musk on Friday defended massive lay-offs in the company said the business experienced a “massive drop" in revenue as many advertisers withdrew and also alleged that activists are ‘trying to destroy free speech in America.’
The job cuts follow a week of uncertainty about the company's future under its new owner Elon Musk who has asserted that the actions were taken to attain economies of scale and make the USD 44 billion acquisition viable.
Following a massive uproar over the layoff, Musk took to Twitter saying, Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists.
Extremely messed up! They’re trying to destroy free speech in America.
On Thursday, he ran a poll asking his follower whether the advertisers should support Freedom of Speech or Political Correctness.
The week after the billionaire took over and promised sweeping changes, workers around the world were checking two email addresses to find out if they still have a job, according to an internal memo sent to employees and seen by Bloomberg. An email to their work account means they’ve been retained. A letter in their personal inbox means they’ve been fired.
Twitter promised to notify workers by 9 a.m. San Francisco time on Friday and temporarily closed offices and suspended badge access “to help ensure the safety of each employee as well as Twitter systems and customer data," the memo said.
Musk plans to eliminate half of Twitter’s workforce to slash costs at the social media platform he acquired for $44 billion last month, people with knowledge of the matter have said. The company must also find ways to cope with interest costs on a massive debt pile.
“In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday," Twitter management said in an email reviewed by Bloomberg. “We recognize that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success going forward."
Mint reported Twitter has let go of almost all of the company’s India team. The company had nearly 250 employees in India.
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