Why Elon Musk layoffs twitter employees? Explained

Since Mr. Musk took over the social networking company last week, its 7,500 employees have been preparing for job cutbacks. Let’s find out Why Elon Musk layoffs Twitter employees in detail

What emails were mailed to Twitter employees?

According to a company-wide email, Elon Musk will start firing Twitter staff members on Friday, reducing the social media service’s 7,500-person workforce just over a week after completing his bombshell buyout.

The New York Times obtained a copy of the email that informed Twitter staff that the layoffs would start as soon as possible.

As the layoffs continued on Friday, employees were advised to leave the office and go home instead. The mail, which was signed “Twitter” and originated from an unspecific location, did not provide the precise amount of layoffs.

The email stated, “We will go through the arduous process of decreasing our worldwide labor force to put Twitter on a healthy path.

“We acknowledge that this will have an impact on several people who have contributed greatly to Twitter, but this step is regrettably required to ensure the company’s success going forward.”

Half of the workers were laid off

According to prior internal messages and an investor, about half of Twitter’s employees appeared to be facing job loss, though the exact number may not be known for some time.

Employees used the messaging app Slack to send heart and salute emojis as the email arrived in their inboxes on Thursday evening.

Some employees reported having trouble accessing the company’s systems later that evening, which may have been a sign they were about to lose their jobs.

“By 9AM PST on Friday Nov. 4th, everyone will receive an individual email with the subject line: Your Role at Twitter.” pic.twitter.com/htPIOy86pe

— Benny Johnson (@bennyjohnson) November 4, 2022

The $44 billion acquisition of Twitter by Musk

On October 27, Mr. Musk completed his $44 billion acquisition of Twitter, and the company’s CEO and other senior executives were immediately let go. Since then, other executives have resigned or been fired, and managers have been instructed to compile lists of high- and low-performers, perhaps in preparation for job cuts.

More than 50 engineers and staff members from Mr. Musk’s other businesses, such as the electric vehicle manufacturer Tesla, were also invited in to study the technology of the social media network and the lists of Twitter employees who were laid off.

The richest guy in the world is under pressure to make Twitter profitable. The transaction represented the largest-ever leveraged buyout of a technology business. For the transaction, the billionaire also borrowed $13 billion from Twitter, with interest payments totaling approximately $1 billion annually. But Twitter frequently experiences financial losses, and its cash flow is weak.

Cost-cutting measures that make the business less expensive to run might be advantageous to Mr. Musk. Requests for comment from Mr. Musk and Twitter were not immediately fulfilled. The amount of layoffs at Twitter is unlikely to be the highest in the tech sector.

What is going on at Twitter’s headquarters?

Although mass layoffs must be announced in advance under federal and California law, it was unclear if Mr. Musk had done so.

Twitter, which is based in San Francisco and is anticipated to report major layoffs to the government, has not sent any such notices, according to a spokeswoman for California’s Employment Development Department on Thursday evening.

To fulfill the conditions of his agreement to purchase Twitter, Mr. Musk committed to maintaining employee pay and benefits for a full calendar year.

According to an internal benefits summary seen by The Times, Twitter employees are routinely compensated at least two months’ salary and the cash worth of equity they were expected to earn within three months after a layoff date.

There had been rumors of looming layoffs at the company. Employees were alerted by a Slack message on Wednesday that 3,738 workers might be let go. A copy of the communication stated that the list could still be changed.

Some employees distributed a “Layoff Guide” with advice about corporate spying and job rights on Wednesday evening. To assist coworkers in downloading essential emails and papers, one employee wrote the software.

Later, he claimed, he was let go. Workers received more cues that their workplace was altering on Thursday. Two sources with knowledge of the situation indicated that Twitter’s “Days of Rest,” which are monthly days off so staff may unwind and recover, have been taken off their schedules.

According to internal communications obtained by The Times, some employees also observed that the employment directory had been shut down. The red wedding has it begun?

Nine minutes later, the company issued the email telling staff of the layoffs. “one employee commented on Slack, alluding to a bloodbath scene in “Game of Thrones.”

The message stated that staff who will keep their positions will receive a message stating as much on their corporate accounts, while employees who will be let go will receive a notification on their accounts.

Late on Thursday, some employees of Twitter’s San Francisco headquarters milled about in one of the lobby areas while still donning the company badges that give them entrance to the building. Some people updated their phones for news regarding cuts while holding drinks from the bar that is connected to Twitter’s workplace.

After the email went out, a Twitter employee named Parker Lyons shared a picture of a woman curled up in a fetal position. He tweeted, “8:59 am notification,” the latest time that layoff notices were scheduled to arrive on Friday.

8:59am notification pic.twitter.com/6khGyy9sac

— parker lyons  (@tweetsbyparker) November 4, 2022

Email statement

On Friday, all employees will be prohibited from entering Twitter’s premises, preventing those who are laid off from stealing anything from the business.

The email stated that all badge access would be suspended and that office would be temporarily shuttered “to help safeguard the safety of each employee as well as Twitter systems and customer data.”

This implies that many Twitter employees will probably check their employment status from home. Whether or not you are impacted, “we understand this is an extraordinarily painful process to go through,” the email continued.

“We appreciate your contributions to Twitter and your patience while we go through this process,” the statement reads. The corporation started informing certain workers that they had been let go as early as Friday morning. The emails varied according to a worker’s location or nation, some of which were viewed by The Times. One employee in New York received an email informing them that although their position had been “impacted,” they would still be working until a separation date in early February.

The email, which was also signed “Twitter,” stated that “during this time, you will be on a Non-Working Notice period and your access to Twitter systems would be suspended.”

Information on severance would be provided to employees “within a week.” Other Twitter employees received emails informing them that they were not let go. In that email, it was said that the business offices would reopen on Monday and that more details would be released the following week. It stated that Mr. Musk “looks forward to soon sharing with everyone about his vision for the company.”

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