You need to be aware of these facts
- Elon Musk reportedly told employees at Twitter to quit.
- According to rumours, the layoffs at companywide will occur before November 1.
- It is expected that an official announcement will be released prior to this date.
Elon Musk, the new owner of Twitter, reportedly caused heads to start rolling as soon the company’s top executives took over. However, the list could grow as the days go by. Twitter’s new owner has apparently ordered a layoff across the company.
The New York Times (opens in a new tabMusk instructed managers to create a list of people to be fired. According to reports, the layoffs will take place before November 1st which is when stock grant recipients are supposed to receive their grants. This type of grant account for a large portion of the employees’ salary, according to The Times.
Twitter didn’t immediately reply Android Central has asked for comments. The SpaceX and Tesla CEO had previously reportedly said to staff that he would fire most employees once he took over as the chief executive. But not more than 75% of Twitter’s entire workforce, contrary speculations.
The platform employs approximately 7,500 people. Musk’s plan to decrease that number is seen as an attempt to avoid giving stock grants to employees who are leaving.
According to reports, Musk fired Twitter’s top executives when he took over the company. According to reports CEO Parag Agrawal and CFO Ned Segal were dismissed on Thursday night. Chief policy officer Vijaya Gadde was also fired along with general counsel Sean Edgett. According to reports, the $44 billion deal was closed Friday. Segal and Agrawal were reportedly escorted out by security from Twitter’s San Francisco headquarters.
Musk has spoken openly about plans for Twitter, which include changing its content moderation policies and a change in the site’s content moderation policies. But he hasn’t yet shared his ideas for how the workforce will be affected. The latest report might paint a grim outlook for the employees of the company.
