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Elon Musk blames activists for "massive decline in revenue" and cuts to executive, curation, and talent acquisition teams. In addition, a report shows a reduction in executive salaries and a drop in revenue for Twitter's advertising business. While Twitter has declined to disclose the number of employees it laid off, POLITICO contacted some former employees who spoke on condition of anonymity.
Elon Musk blames activists for "massive drop in revenue"
Elon Musk, the new owner of Twitter, has confirmed that the company has seen a "massive drop in revenue" this quarter. He blames the decline in revenue on activist groups that have spooked advertisers. In a statement issued Friday, Musk blamed the drop on the "unacceptable behaviour" of activists, who he says are scaring away advertisers. In addition, he said the company had fired or laid off approximately 50% of its staff since October 28.
Musk's comments are particularly interesting because he has accused activist groups of trying to suppress free speech in the US and has been using that to his advantage. However, his comments have been met with a backlash. His comments have sparked a debate about whether Musk is a genuine innovator or is merely trying to make a quick buck. One activist group says that Musk was "blaming activists" for Twitter's "massive drop in revenue".
Cuts to curation team
Cuts to the Twitter curation team will lead to more noise and less interesting content on the site, the social media giant said. The curation team wrote context for trending topics and collaborated with news organizations. They will also be responsible for reviewing content based on government requests or law enforcement requests to access user data. Those who have left the company should be aware of the ramifications of the move.
Cuts to Twitter's curation team are likely to affect the company's ability to control harmful content and prevent data security crises. Twitter's CEO, Elon Musk, has said he plans to cut the company's workforce to a skeleton staff of around 2,000 employees.
Cuts to executive team
The speed of the Twitter layoffs raises questions about how fair the company's dismissal process was. The swiftness of the layoffs could create an environment for discrimination claims, especially if they disproportionately affect people of color, women, or older employees. However, employment lawyer Peter Rahbar says most employers take a lot of care when it comes to mass layoffs. They will make sure that they're fair and don't attract unwanted attention.
The company's latest layoffs have left hundreds of employees unemployed. It's estimated that as of late September, Twitter had about 7,500 employees, down from more than 8,200 in June. Since then, hundreds of employees have left the company, and a massive restructuring of the company's workforce is expected. Twitter plans to reduce its workforce to a skeleton crew of around 2,000 people, according to Bloomberg.
Elon Musk blames activists for "massive drop in revenue"
Elon Musk, the new owner of Twitter, has confirmed that the company has seen a "massive drop in revenue" this quarter. He blames the decline in revenue on activist groups that have spooked advertisers. In a statement issued Friday, Musk blamed the drop on the "unacceptable behaviour" of activists, who he says are scaring away advertisers. In addition, he said the company had fired or laid off approximately 50% of its staff since October 28.
Musk's comments are particularly interesting because he has accused activist groups of trying to suppress free speech in the US and has been using that to his advantage. However, his comments have been met with a backlash. His comments have sparked a debate about whether Musk is a genuine innovator or is merely trying to make a quick buck. One activist group says that Musk was "blaming activists" for Twitter's "massive drop in revenue".
Cuts to curation team
Cuts to the Twitter curation team will lead to more noise and less interesting content on the site, the social media giant said. The curation team wrote context for trending topics and collaborated with news organizations. They will also be responsible for reviewing content based on government requests or law enforcement requests to access user data. Those who have left the company should be aware of the ramifications of the move.
Cuts to Twitter's curation team are likely to affect the company's ability to control harmful content and prevent data security crises. Twitter's CEO, Elon Musk, has said he plans to cut the company's workforce to a skeleton staff of around 2,000 employees.
Cuts to executive team
The speed of the Twitter layoffs raises questions about how fair the company's dismissal process was. The swiftness of the layoffs could create an environment for discrimination claims, especially if they disproportionately affect people of color, women, or older employees. However, employment lawyer Peter Rahbar says most employers take a lot of care when it comes to mass layoffs. They will make sure that they're fair and don't attract unwanted attention.
The company's latest layoffs have left hundreds of employees unemployed. It's estimated that as of late September, Twitter had about 7,500 employees, down from more than 8,200 in June. Since then, hundreds of employees have left the company, and a massive restructuring of the company's workforce is expected. Twitter plans to reduce its workforce to a skeleton crew of around 2,000 people, according to Bloomberg.
