Twitter boss Elon Musk (51) has already cleared the executive floor, now sweeping other floors with an iron broom. According to media reports, Musk wants to lay off half of his workforce. In particular, 3,700 of the 7,500 Twitter employees are said to have lost their jobs. In fact, it was said that 75 percent of it should go in the first place.
Those affected should get the bad news this Friday. Musk urgently needs to cut costs on Twitter, as he believes he is paying too much for the purchases. The price of $54.20 per share, which was agreed to be acquired in April, has since fallen significantly. Because of this, the multi-billionaire wanted to withdraw from the deal several times, but was eventually forced to pay the price agreed by Twitter.
Everyone has to go back to the office
The work atmosphere has deteriorated significantly since Musk became the strongman on Twitter. For selected projects, employees are sometimes required to work twelve hours a day – every day of the week. weekend or friday? None! The weekly working time is up to 84 hours.
On the top of it. Until now, Twitter has had a liberal home office policy: anyone can work from home if they want. This is now over, from Monday all employees will have to work in the office again – if they still have a job.
Before Musk’s takeover, rumors of serious layoffs were circulating on Twitter, and three-quarters of the workforce was laid off. The investor has always denied all these rumors. But now it looks like Musk is actually implementing his savings plans. (co)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
