NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / Elon Musk could axe 50% of Twitter employees
    Business

    Elon Musk could axe 50% of Twitter employees

    Elon Musk could axe 50% of Twitter employees
    Written by Athik Saleh
    Nov 03, 2022, 11:46 am 2 min read
    Elon Musk could axe 50% of Twitter employees
    Elon Musk will change Twitter's work-from-home policy

    At Twitter, everyone has been dreading mass layoffs ever since Elon Musk took over the company. Now, we have a better idea of how many people could be affected. According to The Verge, Musk may lay off approximately 3,800 employees, while Bloomberg reported that 3,700 is the number. Either way, the difficult moment Twitter employees have been bracing for is not far away.

    Why does this story matter?

    • Musk acquired Twitter for $44 billion, out of which $13 billion was debt financing. This puts a lot of pressure on the tech mogul to turn around the company's financial fortune.
    • He has the difficult task of boosting revenue while reducing expenses in front of him. Rationalization of headcount is one of the ways to reduce expenses, and Musk has chosen it.

    Musk will announce the layoff plans on November 4

    Musk is set to axe about half of Twitter's workforce of approximately 7,500. Bloomberg reported that Musk will inform the employees about his plan on November 4. The new CEO is reportedly discussing matters related to headcount reduction with his advisors, including former PayPal executive David Sacks. Musk's people have been reviewing Twitter's staff to identify those who aren't needed anymore.

    Musk to change Twitter's remote work policy

    Twitter employees are set to face some changes in their working conditions as well. Musk has never been a big fan of remote work. According to Bloomberg, he wants to change Twitter's work-from-home forever policy. This change could lead to further departures from the company. In one of the text messages revealed during the court case, we saw Jason Calacanis suggesting this to Musk.

    Musk has been making sweeping changes in Twitter

    Twitter has been undergoing several changes since Musk took over the company a week ago. The billionaire, himself a regular tweeter, has a vision for the company. He began by firing executives. He then increased Twitter Blue's price and included verification or the 'blue tick' along with it. He also has plans to set up a 'content moderation council' for Twitter.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    Twitter
    Elon Musk

    Latest

    Valentine's Week: 5 times Bollywood movies normalized live-in relationships  Valentine's Day
    Microsoft's ChatGPT-powered Bing is open for everyone starting today  Microsoft
    Vodafone Idea and Motorola announce 5G partnership in India Vodafone Idea
    OnePlus 11, 11R, Buds Pro 2, Pad, Keyboard81 Pro announced OnePlus

    Twitter

    Grammy Awards: Sam Smith-Kim Petras's 'Unholy' performance vexes conservatives  Grammy Awards
    Twitter to charge businesses $1,000/month for gold check mark verification Elon Musk
    Twitter will share ad revenue with creators having Blue subscription  Elon Musk
    American scribe calls SRK 'India's Tom Cruise,' upset fans react Shah Rukh Khan

    Elon Musk

    SpaceX to attempt Starship's first orbital test flight in March SpaceX
    What happened when Elon Musk made his Twitter account private Twitter
    Twitter-rival Nostr's iOS client now live on App Store Twitter
    Twitter working on payment tools to build an 'everything app' Twitter

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023