The mass layoffs Twitter employees have been bracing for since Elon Musk began his takeover may be on the horizon. In accordance Bloomberg, the site’s new owner and “Chief Twit” plans to cut 3,700 employees from the company’s workforce, cutting its workforce in half in an effort to cut costs. Musk and a team of advisers are reportedly still finalizing the terms of the layoffs, but one option they’re considering is offering the people they let go 60 days of severance pay. The manager can share the news with affected employees as soon as Friday.
Those who get to keep their jobs may have to get used to working from the office again. Bloomberg says Musk also plans to end Twitter̵[ads1]7;s work-from-anywhere policy and requires employees to report to offices, with some exceptions. The publication previously reported that Twitter employees had been concerned about the changes Musk might bring to this policy before he even took over. It is no secret that the manager is not a fan of working from home and had previously given Tesla and SpaceX employees an ultimatum, demanding that they spend 40 hours in the office or leave the company.
Before Musk’s takeover of the social network began, reports emerged that he was going to fire 75 percent of the company’s employees. He reportedly denied those numbers when he visited Twitter’s headquarters in San Francisco, but it was pretty clear that layoffs were still on the cards. After the deal to buy Twitter was sealed, Musk’s first move was to fire former CEO Parag Agrawal, CFO Ned Segal and other top executives.
Several director and VP jobs were given up over the weekend, while some remaining Twitter employees in leadership roles were asked to write up lists of employees who could be cut. These layoff lists were reportedly ranked based on each individual’s contribution to Twitter’s code, and Musk enlisted the help of Tesla executives and engineers to review them.
Aside from ordering a mass layoff to save money, Musk is also implementing big changes to make money, such as raising the price of Twitter Blue to $8 a month from $3. Bloomberg says the new price could go live as soon as Monday next week. The subscription will also be a requirement for blue verification badges going forward, although users who are already verified will have months to start paying before losing their chin.
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