New Chief Twit Elon Musk plans to fire 50% of Twitter’s staff by Friday (November 4, 2022). The Tesla CEO’s aim to lay off Twitter’s employees is not surprising given that news about the job cuts broke out before Musk’s $44 billion Twitter deal was sealed, according to Teslarati.
When there was a Q&A with company employees on June 16, Musk stated there needs to be a “rationalization of headcount” and added, “anyone who is a significant contributor should have nothing to worry about.”
Twitter staff cuts to over 3,700 jobs
In addition, Bloomberg sources noted that the staff cuts would get rid of over 3,700 jobs at the social media company. The number of job cuts may change before officially being announced and executed.
People close to the matter said that Musk and a team of advisers are still considering the job cuts and policy changes they will carry out. For instance, Musk and his team are thinking of offering laid-off Twitter employees 60 days’ severance pay.
Before Musk’s Twitter takeover, news rolled out that the Tesla CEO planned to remove 75% of Twitter’s staff. Earlier reports suggested that the billionaire planned to cut Twitter employees down to just 2,000 employees or a skeleton staff.
However, it is worth noting that Twitter planned to cut its staff down even before Musk finalized the $44 billion deal.
The job cuts would continue the transformation of Twitter under Musk’s handling. When the deal closed, the Tesla CEO immediately fired senior executives, including former Twitter CEO Parag Agrawal. Musk assumed the role and dissolved the company’s board of directors.
Musk also plans to turn Twitter’s work-from-anywhere policy. The social media network will ask employees to report to offices. However, sources said that there would be some exceptions to the policy.
Since his Twitter takeover, Musk instantly set plans in motion to make the platform more efficient and profitable.
After the potential job cuts this week, Twitter is expected to launch paid verification badges officially on Monday (November 7). Musk also plans to make the Twitter edit feature available to all users rather than exclusively to Blue users paying $4.99 a month.
Increased price of Twitter Blue subscription
Additionally, the new Chief Twit announced that the price of the Twitter Blue subscription would rise from $4.99 to $8 per month. It will be the only way of achieving verification on the app, along with additions of new perks.
Meanwhile, he also changed his Twitter bio to “Twitter Complaint Hotline Operator” and seems to enjoy his Twitter takeover.
“Twitter is simply the most interesting place on the internet,” he tweeted. “That’s why you’re reading this tweet right now.”