Days after it officially became the property of Elon Musk and was delisted, the online platform Twitter laid off nearly half of its employees. The drastic changes have led to a “large-scale collapse in revenue”, admits Musk himself, who wrote on the social network itself that, in his opinion, the reason is pressure on advertisers from activists.
“Unfortunately, we have no choice when the company is losing over $4 million a day,” Musk wrote on the news of the drastic layoffs. He added that each employee was offered compensation equal to three months’ wages.
The company says the layoffs are significantly smaller among the team responsible for combating disinformation. Meanwhile, according to company officials, some of them former, those affected by the purge include people from the communications, content, human rights abuse monitoring and other teams, along with people from the product and engineering teams.
So far, Musk is delivering on his promise to completely change Twitter – both as a business model and as a positioning. He has been the owner and executive director of the company for a little over a week, during which: he proposed that some of the existing functionalities become paid; officially declares its long-standing intention to deregulate the platform; proposed the return of people expelled by the previous leadership; in his spare time he quarreled with numerous politicians, the vast majority of them from the Democratic Party.