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SAN FRANCISCO: Twitter said it will begin laying off staff on Friday, as new billionaire owner Elon Musk moves quickly after his major acquisition of the messaging platform to make the messaging platform financially sound.
Company-wide email seen by France Press agency Says Twitter Employees will receive word via email at the start of work on Friday, California time, about their fate.
It gave no number, but The Washington Post and The New York Times reported that half of Twitter’s 7,500 employees would be let go.
“In an effort to put Twitter on a healthy path, we will go through the difficult process of downsizing our global workforce,” the email read.
Twitter employees have been preparing for this kind of bad news ever since Musk completed the massive $44 billion acquisition late last week and quickly proceeded to dissolve its board of directors and fire its CEO and top managers.
Reviewing the workplace, staff, and other projects requested by Musk is said to have been so stressful and stressful that some engineers slept at Twitter headquarters over the weekend.
The email sent on Thursday told workers to go home and not come to work on Friday.
“Our offices will be temporarily closed and access to all badges will be suspended,” the email read. Those on their way to the office should turn around and go home.”
The email acknowledged that Twitter is going through a “very difficult experience”.
She added, “We realize this will impact a number of individuals who have made valuable contributions to Twitter, but unfortunately this action is necessary to ensure the company’s success moving forward.”
Burdened by the Twitter purchase, which Musk said he overpaid for, the billionaire is looking for ways for Twitter to make money — and fast.
His latest idea was to charge anyone on Twitter who receives a blue button $8 a month.VerifiedA badge confirms to the public that the account is genuine.
A news report this week said Musk wanted to be paid $20 a month but faced backlash, including from bestselling novelist Stephen King, who tweeted: “$20 a month to keep my blue check?” followed by an expletive.
Musk responded on Twitter, apparently bargaining with King: “We need to pay the bills somehow! Twitter can’t rely entirely on advertisers. How about $8?”
Musk said he wants to increase Twitter’s revenue from $5 billion last year to more than $26 billion in 2028.
Major global companies, including General Mills and Volkswagen, suspended their advertising on Twitter on Thursday as pressure mounts on Musk to turn his platform into a successful company.
US auto giant General Motors last week was the first major advertiser to suspend advertising after the acquisition.
Officials and civil rights groups have expressed concern that Musk could open the site to uncontrolled hate speech and misinformation as well as reinstate banned accounts, including that of former US President Donald Trump.
Advertisers are Twitter’s main source of income, and Musk has tried to calm nerves by reassuring the site that the site will not become a “free-for-all”.
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