Elon Musk admits to his 114.1 million followers on Twitter that the company is losing $4 million dollars a day.
Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.
— Elon Musk (@elonmusk) November 4, 2022
Everyone exited was offered 3 months of severance, which is 50% more than legally required.
It has been known that Musk has been putting many of the Twitter staff in the firing and has been very transparent on his social media about it too. Although people may think negatively of him, the reason why he is laying people off work is due to the financial situation the app is currently going through. He also mentioned that lay off employees were offered three months of severance pay which is 50% more then required.
Trash me all day, but it’ll cost $8
— Elon Musk (@elonmusk) November 5, 2022
No matter what people think of Elon Musk, he is still voicing his opinions on Twitter and keeping the new $8 fee for users. If these requirements were not met his staff, then this was a reason for Musk to be able to fire them. The deadline Musk had given to ensure everything is done is the 7th of November.
The company had sent their employees an email by 9 AM whether or not they had been laid off. The email did not confirm how many would lose their jobs, however, with the latest Tweets by Elon Musk, it looks like it would be a hefty amount.
After firing all of the company’s board of directors, Musk hired himself as the sole board member. We will just have to look out on Elon Musks’ Twitter page to see what will happen next on the app and whether his employees have met his deadline.
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