Musk plans to trim half of Twitter jobs: Report
Elon Musk plans to inform affected staffers on Friday. He also intends to reverse Twitter’s existing work-from-anywhere policy.
Elon Musk plans to reduce half of ’s workforce, or about 3700 jobs, at the social media firm in a bid to trim costs after he closed the $44 billion deal.
A Bloomberg News report stated that Twitter’s new owner plans to inform affected staffers on Friday.
Musk also intends to reverse Twitter’s existing work-from-anywhere policy and will ask employees to report to offices though some exceptions could be made, the report noted.
On Monday, Musk denied a New York Times report that stated he was planning to lay off Twitter staff before November 1. Replying to a Twitter user enquiring about the layoffs, Musk tweeted, “This is false.”
The reports about layoffs come after several senior officials announced their resignations. Twitter’s ad sales chief, Sarah Personette, tweeted on Tuesday that she had resigned last week. Dalana Brand, Twitter’s Chief People and Diversity Officer, also said on Tuesday that she had resigned last week.
The resignations follow an exodus of top executives, including CEO Parag Agrawal, CFO Ned Segal, legal, policy, and trust chief Vijaya Gadde, and General Counsel Sean Edgett, after Musk took ownership of Twitter.
Meanwhile, Musk on Tuesday said that the social media platform would charge $8 per month for its Twitter Blue subscription service, which includes a verified blue tick badge for users.
Same day, The Washington Post reported that Twitter plans to charge for content, including videos, on the social media site, by allowing users to put video content behind a paywall.
In the past, Twitter has relied mainly on advertising revenue. However, Musk plans to generate revenue through subscriptions as well.
Edited by Megha Reddy