Twitter said it will start lay off employees on fridayas the new billionaire owner, Elon Muskis moving quickly after its big acquisition to make the messaging platform financially sound.
A company-wide email seen by AFP says Twitter employees will receive an email at the start of operations Friday, California time, about their destination.
It does not give a figure, but the Washington Post and the New York Times reported that approximately Half of Twitter’s 7,500 employees will be laid off.
“In an effort to put Twitter on a healthy path, we will be going through the difficult process of reducing our global workforce,” the email said.
Twitter employees have been bracing for this kind of bad news ever since Musk completed his mammoth acquisition of 44 billion dollars late last week and quickly set about dissolving its board and firing its chief executive and top managers.
A workplace and employee review and other projects ordered by Musk were reportedly so exhausting and exhausting that some engineers slept at Twitter headquarters over the weekend.
The email sent Thursday told workers to go home and not show up for work on Friday.
“Our offices will be temporarily closed and all access to credentials will be suspended,” the email said. Those heading to the office should turn around and go home.”
The email acknowledged that Twitter is going through “an incredibly challenging experience”.
“We recognize that this will affect a number of people who have made valuable contributions to Twitter, but unfortunately this action is necessary to ensure the success of the company in the future”, he added.
Burdened with buying Twitter, for which Musk has said he overpaid, the tycoon is looking for ways for Twitter to make money, and fast.
His most recent idea was charge eight dollars a month to anyone on Twitter who received a blue “verified” badge that assures the public that the account is authentic.
A news report this week said Musk wanted to get paid $20 a month but faced backlash, including from the best-selling novelist. Stephen King, who tweeted: “$20 a month to keep my blue check?” He was followed by a swear word.
Musk responded on Twitter, apparently negotiating with King: “We have to pay the bills somehow! Twitter cannot rely entirely on advertisers. How about 8 dollars?
Musk has said he wants to grow Twitter’s revenue from $5 billion last year to more than $26 billion in 2028.
Major global companies, including General Mills Y volkswagensuspended their Twitter advertising on Thursday as pressure mounts on Musk to turn his platform into a successful business.
Last week, the US auto giant General Motors it was the first major advertiser to suspend advertising following the acquisition.
Officials and civil rights groups have raised concerns that Musk will open the site to rampant hate speech and misinformation, as well as reinstate banned accounts, including that of former US President Donald Trump.
Advertisers are Twitter’s main source of income, and Musk has tried to calm nerves by ensuring the site it will not become “hell for all”.
(With information from AFP)