It has been a rather tumultuous time at Twitter ever since Elon Musk acquired the social media platform. The Tesla CEO fired the senior leadership within a day of being at helm of affairs at Twitter. Within a week, almost 50% of Twitter has been asked to leave.
Musk in a tweet explained his rationale behind sacking almost 50% of the workforce. The new owner of Twitter said that the company had no choice as it was bleeding money. “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day,” he said in a tweet.
He also explained that everyone who was let had been offered a severance package. “Everyone exited was offered 3 months of severance, which is 50% more than legally required,” he said in the same tweet.
The employees who are still with Twitter, as per a report by The Verge, got another email, which confirmed that they weren’t sacked. The Verge report has published the email and here it is in its entirety:
Musk in a tweet explained his rationale behind sacking almost 50% of the workforce. The new owner of Twitter said that the company had no choice as it was bleeding money. “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day,” he said in a tweet.
He also explained that everyone who was let had been offered a severance package. “Everyone exited was offered 3 months of severance, which is 50% more than legally required,” he said in the same tweet.
The employees who are still with Twitter, as per a report by The Verge, got another email, which confirmed that they weren’t sacked. The Verge report has published the email and here it is in its entirety:
“Hello –
Thank you for your patience through this transition and for your commitment to the important work you do at Twitter. We are sending this email to confirm that your employment is not impacted by today’s workforce reduction.
Throughout the last week,
We know you likely have a number of questions and we will have more information to share next week. In the meantime, please note that until Monday, Birdhouse is temporarily offline, our office buildings are temporarily closed and all badge access is temporarily suspended. Offices will reopen on Monday, Nov. 7th.
Thank you for continuing to demonstrate respect for impacted colleagues as we navigate these changes. As a reminder, we expect you to continue to comply with company policy by refraining from discussing confidential company information on social media, with the press or elsewhere.
We look forward to working with you on Twitter’s exciting future.
Twitter”
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