Massive Layoffs At Twitter Today/Twitter’s Future Will Be Promising
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After last week’s ousting of top Twitter executives, about 3,700 Twitter employees (that’s about half of the Twitter employees) will be without their jobs by the end of Friday, Nov 4, 2022. In an email sent to Twitter employees all across the world, Twitter asked them to return home and wait for an email to inform them of their job status with Twitter at 9:30 pm India time (9:00 am PT). All Twitter offices will be temporarily closed and badge access suspended. A software engineer , Ramish Saqib, who worked at Twitter for a year and was laid off in July of 2022, said he was given one week’s notice and 60 days of severance pay. Another former employee said the standard severance for large layoffs was 60 days with additional pay based on years of tenure.
This massive layoff is indicative of Elon Musk’s desire for a thorough change in Twitter corporate culture. Some of Twitter’s advertisers are pausing ads during this transitional period. Presently, Musk’s vision for Twitter comes in Twitter 1.0 and Twitter 2.0. Twitter 1.0 intends on fixing Twitter’s problems and making it into a better platform by cleaning it up while establishing verification system to insure that users are actually human. Furthermore, a subscription model (suggested $8/month) would be introduced to reduce source of revenue coming only from advertisers in order to provide greater control for users. This subscription model may include verification and various beneficial features (such as edit). Finally, there would be compensation for content creators, a welcomed feature not available at any other social media platforms. Twitter 2.0 will be discussed more in a future date, most likely on its way to become the X, the Everything App. Inclusiveness and accountability are part of the goals under Elon Musk’s leadership, to allow Twitter to ascend into a respected advertising platform, instead of a free-for-all hellscape where anything can be said with no consequences.
In the video published on Nov 3, 2022, by Newsthink, as “Elon Musk’s INSANE First Week: Everything that Happened at Twitter“, below:
Elon Musk also tweeted that (in italics), “Twitter will be forming a content moderation council with widely diverse viewpoints.. No major content decisions or account reinstatements will happen before that council convenes.”
Elon Musk said he had ‘no choice’ but to slash staff numbers at Twitter, because the company is losing more than $4m (£3.5m) a day. Half of the social media site’s staff are being let go, a week after the Tesla boss bought the company. An internal email sent on Friday said the mass job cuts were “unfortunately necessary to ensure the company’s success moving forward”. Mr Musk has been looking for ways to cut costs and make more money on the platform, such as proposing verified users pay $8 (£7) per month to keep their blue tick, in the video published by BBC News, on Nov 5, 2022, as “Elon Musk defends Twitter layoffs – BBC News“, below:
Gerber-Kawasaki CEO and co-Founder Ross Gerber, also an investor in Twitter, joins Emily Chang to break down the changes Elon Musk is expected to make to the social media platform over the next few months, in the video published on Oct 28, 2022, by Bloomberg Technology, as “What Twitter 2.0 Could Look Like Under Musk“, below:
Yahoo Finance Live anchors discuss the road ahead for Twitter as Elon Musk begins mass layoffs in an effort to pull back on advertising, in the video published on Nov 4, 2022, by Yahoo Finance, as “Elon Musk begins layoffs at Twitter as General Mills and others pause ads“, below:
For a man who likes to make headlines, spending $44bn to buy one of the biggest social media platforms in the world, is one way to achieve that. No sooner had Elon Musk signed the deal, he fired around half of Twitter’s staff, by email. Some of those gone include specialists with human rights and hate speech expertise. Twitter had been moderating content – notably expelling former US president Donald Trump. Some major advertisers now say they are withholding their business until they see what happens next. How social media platform may change is yet to be revealed, in the video published on Nov 6, 2022, by Al Jazeera English, as “How will Elon Musk shape Twitter?| Inside Story“, below:
Elon Musk plans to eliminate about 3,700 jobs at Twitter Inc., or half of the social media company’s workforce, according to sources. Meanwhile, more companies are reportedly pulling advertising off the platform, in the video published on Nov 3, 2022, by Bloomberg Technology, as “Musk Plans Massive Layoffs at Twitter”, below:
A proposed class action lawsuit filed in California alleges Twitter is eliminating employees without enough notice, violating California’s “Warn” Act. Senior Correspondent for Business Insider Ben Bergman joins CBS with the latest, in the video published on Nov 4, 2022, by CBS News, as “Bloomberg: Former Twitter employees file class action lawsuit against company amid layoffs“, below:
Keep in mind that if Twitter would be providing laid-offed employees 60 day severance pay and benefit package, it would be better than receiving 60 day notice because these people would be able to immediately start looking for jobs.
Advertisers and civil rights leaders alike are worried about the consequences of Elon Musk’s Twitter takeover. Civil rights leaders shared their concern with Musk Tuesday — Color of Change President Rashad Robinson tells us how it went, in the video published on Nov 4, 2022, by MSNBC, as “Twitter To Begin Big Layoffs Friday“, below:
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