Twitter to lay off 50% of workforce
Elon Musk, the CEO of twitter, is reportedly planning to reduce half of the company's personnel in order to save money, and additional information about how many individuals may be impacted has begun to surdata-face, according to a media source. According to the Verge's deputy editor alex Heath, Musk met with his advisers to finalise a plan to lay off approximately 3,800 employees, including former PayPal CEO David Sacks.
In accordance with a previous report, Musk intended to lay off 3,700 workers. Those affected would be eligible for 60 days of compensation. He also plans to eliminate Twitter's "forever" work-from-home policy, it continued. Earlier, it was stated that layoffs at twitter will affect about a quarter of the workforce and have a significant impact on teams like sales, product, engineering, legal, and trust and safety.
Following his takeover, Musk also disbanded Twitter's board of directors, according to a filing with the US Securities and Exchange Commission (SEC). The complaint states that the tesla CEO then became "the sole director of Twitter." It was revealed that Musk replaced them all and did not join the twitter board of directors. Musk became Twitter's new CEO last week. He dismissed the company's policy director Vijaya Gadde, the CEO of indian descent Parag Agrawal, and the chief financial officer Ned Segal, among others.
In accordance with a previous report, Musk intended to lay off 3,700 workers. Those affected would be eligible for 60 days of compensation. He also plans to eliminate Twitter's "forever" work-from-home policy, it continued. Earlier, it was stated that layoffs at twitter will affect about a quarter of the workforce and have a significant impact on teams like sales, product, engineering, legal, and trust and safety.
Following his takeover, Musk also disbanded Twitter's board of directors, according to a filing with the US Securities and Exchange Commission (SEC). The complaint states that the tesla CEO then became "the sole director of Twitter." It was revealed that Musk replaced them all and did not join the twitter board of directors. Musk became Twitter's new CEO last week. He dismissed the company's policy director Vijaya Gadde, the CEO of indian descent Parag Agrawal, and the chief financial officer Ned Segal, among others.