Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Twitter mass layoffs begin as Musk slashes costs

Twitter mass layoffs begin as Musk slashes costs

Thousands of Twitter employees were ordered to stay home on Friday to await a bracing round of layoffs that could see half of the payroll axed as new owner Elon Musk launches his major overhaul of the company.

A week after the billionaire took over the company promising sweeping changes, Twitter workers around the world have been 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 9am San Francisco time on Friday, and has 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

The cull is part of Musk's push to find ways to pay for the mammoth $44-billion deal for which he took on billions of dollars in debt and sold $15.5 billion worth of shares in Tesla, his electric car company.

Musk, the owner of Tesla and SpaceX, has been scrambling to find new ways for Twitter to make money after his mammoth buyout, including charging users $8 a month for verified accounts.

This would help overcome the potential loss of advertisers, Twitter’s main source of revenue, with many of the world’s top brands putting their ad buys on hold, spooked by Musk’s well-known disdain for content moderation.

To mitigate concerns, Musk has vowed that the site would not become a "free-for-all hellscape” though this was quickly followed by a Musk retweet that relayed a conspiracy theory about the assault on the husband of the US House Speaker.

Though extremely influential with opinion-makers and celebrities, the California company has long struggled to generate profit and has failed to keep pace with Meta-owned Facebook and TikTok in gaining new users.

"In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce," the unsigned email said.

The email did not give a number but the Washington Post and New York Times reported that about half of Twitter's 7,500 employees — mostly based in San Francisco — will be let go.


Saying goodbye

Some workers had already begun to learn their fates and took to Twitter to say goodbye to colleagues.

"Spoiler Alert: I do not have a job," tweeted ex-employee Blake Herzinger as others reported losing access to company servers and email accounts.

Twitter employees have been bracing for this kind of bad news since Musk completed his acquisition late last week and quickly set about dissolving its board and firing its chief executive and top managers.

Late on Thursday, a group of five Twitter employees who had already been fired filed a class action complaint against the company on the grounds that they had not been given the required 60-day notice period as required by law.

The lawsuit references the US Worker Adjustment and Retraining Notification  Act, which provides workers a right to advance notice in cases of mass layoffs or plant closings.

The speed of the changes is having repercussions. Twitter has already been sued for not giving proper notice of the plan to eliminate about 3,700 jobs. 

Some advertisers are also wary of Musk’s plans to reexamine Twitter’s content moderation policy. Volkswagen, Europe’s largest carmaker, joined Pfizer and General Mills in temporarily pausing advertising on the platform.

“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,” Musk said in a tweet. “Extremely messed up! They’re trying to destroy free speech in America.”


AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Trump Administration Pressures Banks to Restrict Financial Access for Undocumented Immigrants
Passenger Bound for Germany Refused to Sit Beside a Woman on a Plane — Then Slapped a Flight Attendant
Ukraine’s Leadership Rift Spills Into the Streets as Protesters Target Army Chief
Ukrainian Drone Barrage Kills Eight and Strikes Russian Logistics Network
The Ten World Cup Finals That Defined Football History
Smartphones Are Getting More Expensive, Sales Are Collapsing, and Even Apple Admits: "Prices Will Rise"
The Monaco Bombing Has Become a Test of Ukraine’s Intelligence Accountability
Leadership Change and Strategic Rivalry Redraw the Political Map
The AI Race Enters Its Infrastructure Era
Britain Nationalises British Steel to Protect Scunthorpe Production and Strategic Supply
French National Assembly Overrides Senate to Pass Historic Assisted-Dying Legislation
Spanish Prime Minister's Wife Ordered to Stand Trial as Corruption Probes Encircle Governing Party
Zelensky Faces Kyiv Protests Over Ousting of Dynamic Ukrainian Defense Minister
Thomas Tuchel Faces Fierce Backlash After Tactical Retreat Costs England World Cup Final Berth
A Quiet Bastille Day: France Grapples with World Cup Heartbreak and Leftover Fireworks
Spain in Ecstasy: "We Feel Unbeatable, We Taught the Whole World a Lesson"
Spain and UK Dismantle Gibraltar Border Following Landmark Schengen Integration Treaty
Hungary's "Puppet" President to Be Ousted, Orbán Fumes: "Democracy Is Dead"
Forget Tinder: The Surprising Platform Where People Find Love
Harvard Astrophysicist to Lead U.S. Scientific Advisory on Unidentified Aerial Phenomena
Emergency Sirens Activated Across Bahrain as Interior Ministry Issues Shelter Directives
World Cup Visitors Turn American Big-Box Stores Into Souvenir Stops
Netflix Weighs Always-On Channels, Bundles and Short-Form Video
Passenger Is Pulled Partly Outside Ryanair Jet After Window Fails Mid-Flight
The AI Invoice Shock: Layoffs Didn't Save Managers Money — They Cost Them More
Concern: Sexually Transmitted Bacterium Among Men Develops Antibiotic Resistance
Passenger Partially Pulled Out of Ryanair Jet After Cabin Window Fails Mid-Flight
Severe Heatwave Drives Dangerous Ground-Level Ozone Pollution Across Two Thirds of European Union
The Physical and Electronic Barriers Disrupting Domestic Wireless Networks
France and Morocco Open World Cup Quarter-Finals as Collina Defends Refereeing
Tech Pulse: The Future of AI and Screen Culture
Global News Briefing: Escalating Geopolitical Tensions and Corporate Shakeups
Global News Brief: Escalating Conflicts, Public Health Crises, and World Cup Drama
French Court Allows Le Pen to Run for Presidency, but with an Electronic Tag: "I Will Appeal, and I Will Run"
$1.4 Trillion: The Lawsuit That Could Crush Meta
Europe's Growing Struggle with Extreme Heat and Air Conditioning
Anthropic Reengineers Agentic Architecture to Shift Autonomous Workplace Automation to the Cloud
Logic Flaw in Windows 11 Permission Architecture Silently Consumes Hundreds of Gigabytes of Local Storage
Apple Advances Late-Stage Operating Systems with Fourth Beta Deployments
Global Crisis Alert: Escalating Middle East Tensions and UK Political Upheaval
Japanese Technology Firm Fujitsu Launches Advanced Artificial Intelligence Tool for Corporate Disclosures
South Africa Officially Launches Nationwide Campaign for Highly Contested Local Government Elections
United Kingdom Commits Additional Funding for Unexploded Ordnance Clearance in Laos
Singapore Announces Stringent New Greenhouse Gas Regulations for Commercial Cooling Systems
Cambodia and Thailand Hold High-Level Border Security Talks at United Nations Headquarters
Myanmar Military Government and China Sign Major Agreement to Upgrade Media and Cultural Cooperation
Knife Attack at Swiss Train Station Leaves Three Injured in Suspected Act of Domestic Terrorism
Transnational Extortion Gang Threatens Canadian Police With Army of One Thousand Armed Operatives
Australia Imposes Forty-Two-Day Quarantine on Cruise Ship Passengers Following Deadly Hantavirus Outbreak
International Monetary Fund Unlocks Seven Hundred Million United States Dollars for Sri Lanka Following Economic Reforms
×