Now that Elon Musk is Twitter’s boss, there’s tough time coming for employees. Ever since news of Musk taking over Twitter was making rounds, there were rumours that the billionaire would cut jobs once he officially takes over the company.
A new report coming from Bloomberg reiterates the same.
As per the latest report, Musk is planning to cut half of the jobs at Twitter. The report further clarifies that the Twitter boss will cut nearly 3700 jobs. It is said that affected employees will be informed by the end of this week. Notably, neither Musk nor the microblogging platform has confirmed job cuts yet.
To recall, soon after Musk became the new Twitter boss he denied rumours related to layoffs. In a response to a Twitter user Eric Umansky asking about the layoffs, Musk replied, “This is false.”
Well, even though Musk denied layoffs at Twitter, several top executives and almost the entire board is out of the company. Former Twitter CEO Parag Agrawal and the legal and policy head Vijaya Gadde were among the first ones to get fired after Musk’s takeover last week. Both of these ex-Twitter executives have removed “working at Twitter” from their Twitter profiles.
Besides the job cuts, the Bloomberg report highlighted that Musk also intends to reverse Twitter’s existing work-from-anywhere policy. Just like he has done at Tesla, Musk is expected to ask Twitter employees to return to the office. To recall, a few months ago, Musk asked Telsa employees to return to the office or leave their job.
Announcing work-from-office policy at Tesla, Musk sent an email under the subject line, “remote work is no longer acceptable”. In the email, Musk noted, “anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla.” While there are no official words yet, it is believed that the billionaire could follow the same strategy for Twitter employees as well.
Musk recently announced charging $8 per month (roughly around Rs 660) for blue tick on Twitter. However, he hasn’t confirmed when the subscription plan will be available and what all features will be available under the plan. As a Twitter boss, Musk plans to move away from ad business to a subscription model to make Twitter a profitable company.