Showing posts with label Elon Musk. Show all posts
Showing posts with label Elon Musk. Show all posts

Twitter Begins Laying Off Employees

After Elon Musk completed his purchase of Twitter for US$44 billion,  a round of layoffs have begun.

This was after most of the C-suite executives have been let go in earlier weeks. 

A New Delhi-based Twitter employee has said her entire team has been fired. 

Multiple sources have indicated that 180 of its 230 odd employees have been terminated.  The few remaining survivors worked mainly on government engagement and critical maintenance operations. 

Employees who were let go found that their access to work emails had been revoked.  Most employees were expecting some notice period even though they were aware of rumours in the past few weeks. 

In Singapore, Twitter employees have also been let go though it is not known how many employees were laid off. 

A search on LinkedIn shows that Twiiter is still hiring though
It was reported that Elon Musk had earlier indicated that he intends to cut 3,700 jobs (half of Twitter's global workforce) in a bid to drive down costs. 

In the US, a class- action lawsuit has been filed by workers in San Francisco's federal Court who said they were not given enough notice. 

Elon Musk's purchase of Twitter is not without controversy. After he took over the company,  the CEO, finance chief and senior legal executives were all let go.

Musk has taken on the role of interim CEO and has also brought in Tesla employees to help run the company. 

As Twitter has been taken private,  its stock has already stopped trading on New York Stock Exchange on Friday. Shareholders will be paid US$54.20 for their shares. Existing shareholders will not need to do anything as their brokers will handle all the necessary. 

Twitter has been listed since 2013. 



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