Musk is firing several thousand Twitter employees. Concerns stop advertising

It is not known how many people have already been released. As of Friday, the California Department of Employment Development had not been informed about the reduction plans and the number of people who would lose their jobs, although this is a legal requirement for any company with more than 100 employees, the Associated Press reports. Some of the dismissed are going to file a class action lawsuit against the billionaire.

Reuters reports that Musk plans to lay off around half of its staff Twitter, which is roughly 3.7 thousand. employeesand the company’s offices have been temporarily closed.

Some of the dismissed lost access to their work Twitter accounts before they were informed that they had lost their jobs, Politico reports.

To replace the redundant workers, Musk has already hired “some Tesla engineers, some investors and his colleagues,” the person who lost his job told the portal. She stressed that Musk announced a reduction in employment, explaining that it was necessary to “cut costs”.

Read also in BUSINESS INSIDER

Politico, however, reports that other tech companies are already signaling their desire to hire former Twitter employees. “If you work for Twitter and find yourself out of work today, please get in touch. I’m sure we’ve got the right place for you,” Amazon representative Jun Gonzalez wrote on Twitter.

Musk’s three top executives had already laid off at the end of Octoberwhen it took over this site. The CEO of Parag Agrawal, CFO Ned Segal and Vijaya Gadde, head of legal policy, trust and security, lost their jobs; in addition, Sean Edgett, the platform’s general counsel, was fired.

The sagas with Twitter continued. Musk is slowing down, companies stop advertising

AP reports that big companies like General Motors, General Mills and Audi have stopped posting their ads on Twitterawaiting more information on how the company will operate after Musk’s takeover.

The Volkswagen Group said on Friday that it had ordered the The brands Skoda, Seat, Cupra, Audi, Lamborghini, Bentley, Porsche and Ducati have opted out of any paid Twitter promotion for the time being. Advertisers fear that moderating Twitter content will not be as strict on hate speech, fake news, and similar posts as before. Companies do not want their brands to “lose their reputation” by appearing on Twitter, explains AP.

Meanwhile, Musk tweeted on Friday saying that the website recorded a “colossal drop in income” due to the activities of “activists”. He did not explain who he meant or how much Twitter has suffered.

Even before the acquisition of Twitter, Musk repeatedly told potential investors and partners that he wanted to financially heal the company, cutting almost 75 percent off. its employees.

In April, the billionaire made a bid to buy Twitter for $ 44 billion. In May, however, he withdrew from the offer, arguing that Twitter did not want to provide him with information about how many user accounts are fake. In early October, the billionaire changed his mind once again and announced that he was ready to buy Twitter for the price originally agreed with the service $ 44 billion.

#Musk #firing #thousand #Twitter #employees #Concerns #stop #advertising