The billionaire also aims to require face-to-face work at the office starting this Monday, which would reverse the company's current policy, which allows you to complete tasks from anywhere
Elon Musk's photo via of a Twitter logo in an illustration taken on October 28, 2022. REUTERS/Dado Ruvic
Billionaire Elon Musk has drawn up plans to lay off up to half of Twitter's 7,500 employees, according to people familiar with the matter, as part of a cost-cutting overhaul, Britain's newspaper reported Thursday. Financial Times (FT).
As part of these plans, Musk seeks to cut some 3,700 jobs after buying this networking firm $44 billion in social security, according to two people familiar with the project, though the exact figure could change.
According to the FT, the employer also aims to require face-to-face work at the office starting this Monday, which would reverse the Twitter's current policy, which allows employees to work from anywhere.
The job losses could take place this Friday, if not sooner, according to information from the FT, adding that Musk has already made his mark on Twitter since the acquisition closed, by asking employees to work full time on select projects.
A Twitter worker at the company's headquarters in San Francisco, (REUTERS/Robert Galbraith/file)
One such project is to offer a subscription servicewhich will verify users, increase the visibility of your posts and allow them to see fewer ads. Musk said Tuesday that the site will charge $8 a month to verify user accounts, arguing the plan would solve the platform's problems with bots and trolls while creating a new source of revenue for the company. Some users warned that they would simply leave the site if forced to pay.
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Late last week, the world's richest man overhauled the management team and fired executives, including the head of Twitter , Parag Agrawal, while bringing in a small group of trusted advisors, including his personal attorney Alex Spiro.
On the other hand, Twitter's finances remain a mystery going forward, as Musk is forced to make huge loan repayments after his purchase.
Baned accounts reinstated
In another announcement about Twitter's new direction, Musk said yesterday that it could take weeks to reinstate the accounts vetoed, such as that of former US President Donald Trump.
The possible reinstatement of those accounts banned for violating the site's content moderation rules has been seen as an indicator of where Musk, a self-styled “free speech absolutist,” wants to take the site. which he describes as a global plaza.
An employee walks past a logo of Twitter made with California plates at the company's headquarters in San Francisco, Calif. (REUTERS/Robert Galbraith/File photo)
However, the huge sum paid by Twitter increased the pressure on Musk to keep advertisers on board and rein in offensive content.
In his Wednesday tweet, Musk also said that had spoken with civil society leaders “about how Twitter will continue to combat hate and harassment and enforce its electoral integrity policies.”
This statement occurred after the end of week ensured that the site would not become a “free access hellscape” and announced the formation of a content moderation council.