Reportedly ordering massive job cuts, across Twitter immediately, Elon Musk has made good on his plan to downsize the staff, after his official takeover of the company on Thursday. He is also requesting that managers review employees of the social media company.
According to the New York Times, three people who refused to be identified with knowledge of the matter, told them that apparently, some managers are being asked to create lists of employees to cut, they said. This is because Musk has ordered job cuts across the company, with some teams to be curtailed more than others.
Apparently, the Twitter layoffs are to take place immediately, before November 1, when employees were scheduled to receive stock grants as part of their compensation. Although he is reportedly supposed to pay the workers cash, in place of their stock, under the terms of the merger agreement, by laying off employees before that date, Musk may avoid having to pay out the grants.
These sources told the New York Times that the scale of the layoffs could not yet be determined, however Twitter currently has about 7,500 employees. According to Silicon Valley wisdom, Twitter not only has too many employees for its level of revenue, but also has an employee base comprised of radical leftists, such as those who wrote an open letter to Musk demanding their jobs remain intact. A definitely “entitled” move on their part.
Ross Gerber, the Chief Executive of Gerber Kawasaki Wealth and Investment Management, said –
“I was told to expect somewhere around 50 percent of people will be laid off”.
- Ross Gerber, CEO, Gerber Kawasaki Wealth and Investment Management
Musk was seen arriving at Twitter’s headquarters, on Wednesday, in San Francisco, where he began meeting employees. Then, he proceeded to fire the company’s top executives, on the following day. Those at the top who were the first to go were: CFO Ned Segal, CEO Parag Agrawal, and Vijaya Gadde, the head of “trust and safety,” who was notorious for her fanatical left-wing censorship campaign, which included suspending former President Donald Trump’s account.
Preventing them from making any further changes to the platform, Musk also had Tesla engineers review Twitter’s software code and he locked out Twitter engineers. This is a bold move on Musk’s part to prevent any additional internal chaos, on the part of exiting employees, who may want to sabotage his efforts to promote free speech at the media giant. That Musk has the engineering resources to do so, at his disposal, is profoundly providential.
Apparently, Musk, is also considering becoming Twitter’s new CEO, with plans to reverse many of the lifetime bans for users that have been blacklisted, from the platform, including Kanye West’s account, which is already visible again. It remains to be seen, whether former President Donald Trump, will use his Twitter account when it is restored, now that he has started his own Truth Social, however the fact that his ban has been lifted, is a positive direction for the media giant.
Open discussion with dialogue that promotes thought, has been what Musk has said all along he wanted to restore. He apparently, is moving in the right direction, and so far, has not backed down on his word.
“Out with the old. In with the bold.”
-Anonymous