Twitter starts layoffs today, tells employees to return home

The social media platform said Twitter employees who are not affected by the layoffs will be notified via their work email addresses. (Photo: Reuters)

A week after billionaire entrepreneur Elon Musk acquired Twitter, media reports indicate that employee layoffs at the social media company are expected to begin on Friday, with approximately half of Twitter's 7,500 employees likely to lose their jobs.

The New York Times, citing an internal email, reported that Musk will begin laying off Twitter employees on Friday, exactly one week after completing the USD 44 billion acquisition of the social media company and ousting CEO Parag Agrawal, legal executive Vijaya Gadde, Chief Financial Officer Neal Segal, and General Counsel Sean Edgett.

According to the NYT report, Twitter employees were notified via email that layoffs would begin, and workers were instructed not to return to the office on Friday as the process continued.

To put Twitter on a healthy path, we will undergo the difficult process of reducing our global workforce, according to an email obtained by the New York Times. We recognize that this will have an impact on several individuals who have made valuable contributions to Twitter, but we must take this action to ensure the company's future success.

Employees took note of a Slack message that suggested 3,738 people could be laid off and that the list could still be modified, according to the report.

Although the exact number of layoffs is not yet known, it is estimated that roughly half of Twitter's employees will lose their jobs.

Musk has announced and alluded to plans to implement radical changes at Twitter, including charging $8 per month for the blue verification checkmark next to a user's name, which authenticates the individual or company on the social media platform.

The monthly "Days of Rest" that Twitter employees can use to rest and recharge have been removed from their calendars.

Twitter layoff rumors have circulated for some time, and following Musk's acquisition, the NYT reported that Twitter managers were asked to compile lists of high- and low-performing employees, likely in preparation for layoffs.

According to a report by the New York Times, before the impending layoffs, some employees circulated a Layoff Guide with advice on corporate surveillance and employment rights. One employee, who had developed software to assist coworkers in downloading important emails and documents, was subsequently fired.

The report added that as part of his agreement with Twitter's acquirer, Musk agreed to maintain employee compensation and benefits for one year. The NYT reported that Twitter employees are typically paid at least two months' salary and the cash value of the equity they were scheduled to receive within three months of a layoff.

Publish : 2022-11-04 13:08:00

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