Yesterday, Elon Musk laid off 50 per cent of Twitter employees and defended the decision by saying that the company was losing $4m per day.
The new owner of Twitter added that all those who lost their jobs were given three months of severance pay, which he claimed is “50 per cent more than legally required”.
Musk wrote on the social media platform that he purchased for $44bn: “Regarding Twitter’s reduction in force, unfortunately, there is no choice when the company is losing over $4M/day. Everyone exited was offered 3 months of severance, which is 50% more than legally required.”
Twitter alerted employees of their job status by email after barring their entrances to offices and cutting off their access to internal systems overnight.
“Team, In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” the internal memo to the employees noted.
Hours after firing 50 per cent of the staff at Twitter, Elon Musk tweeted “power to the people”, as a grim situation unfolded at the social media platform after his takeover.
Article updated 2 weeks ago. Content is written and modified by multiple authors.
