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%Begin Report Elon Musk plans to cut 75% of Twitter workforce Technology - Elon Musk HEAD TOPICS
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that he plans to cut nearly 75% of Twitter’s employee base of 7,500 workers, leaving the company with a skeleton crew, according to the report. The newspaper cited documents and unnamed sources familiar with the deliberations.San Francisco-based Twitter and a representative for Musk attorney Alex Spiro did not immediately respond to messages seeking comment. While job cuts have been expected regardless of the sale, the magnitude of Musk's planned cuts are far more extreme than anything Twitter had planned.
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Musk himself has alluded to the need to cull some of the company's staff in the past, but he hadn't given a specific number — at least not publicly. Read more:
KSAT 12 » Elon Musk says he's 'obviously overpaying' for Twitter but touts platform's 'incredible potential' Elon Musk Plans to Lay Off Nearly 75% of Twitter Employees, or 5,500 Staffers (Report) Elon Musk, noted SF critic, reportedly plans mass Twitter layoffs Elon Musk May Gut 75% Of Twitter Workforce – Report
KSAT 12 » Elon Musk says he's 'obviously overpaying' for Twitter but touts platform's 'incredible potential' Elon Musk Plans to Lay Off Nearly 75% of Twitter Employees, or 5,500 Staffers (Report) Elon Musk, noted SF critic, reportedly plans mass Twitter layoffs Elon Musk May Gut 75% Of Twitter Workforce – Report
Who will replace Truss as UK prime minister Sunak Mordaunt Johnson
Liz Truss quit on Thursday after the shortest, most chaotic tenure of any British prime minister, forced out after her economic programme shattered the country's reputation for financial stability and left many people poorer.
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Read more >> Elon Musk says he's 'obviously overpaying' for Twitter but touts platform's 'incredible potential'Billionaire Elon Musk has said his decision to acquire Twitter for $54.20 per share could potentially accelerate the creation of X, an 'everything app,' by three to five years. elonmusk elonmusk Tesla cars have lots of unreported problems. Stock price down 50% from peak.
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elonmusk pump and dump - or hold and grow? Looking forward to an open and fair twitter platform with headquarters in Texas. Elon Musk Plans to Lay Off Nearly 75% of Twitter Employees, or 5,500 Staffers (Report) Elon Musk could be set to slash Twitter’s headcount drastically once his $44 billion deal for the social network goes through.
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The mega-billionaire has told potential investors in the Twitter… How is this not a sign to the investors that they should pull their money? A true man of the people…. It’s been real Twitter!
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Elon Musk, noted SF critic, reportedly plans mass Twitter layoffsMusk has previously hinted he would move Twitter out of San Francisco, falsely claiming its presence in The City gives the platform 'a strong left bias.' He's bluffing. But if elonmusk moves Twitter out of San Francisco I am going to go out on a limb and say... Who gives a f*ck.
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Let’s focus on supporting small businesses. Then big biz will want to come and stay here. sf
Elon Musk May Gut 75% Of Twitter Workforce – Report Elon Musk told prospective investors in Twitter that he planned to eliminate about 75% of the social media platform’s 7,500-strong workforce.
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Such a move would leave Twitter with about 2,000 staffe… Just another 'job creator' laying off thousands. you mean, you cant spend 6 months publicly insulting your new boss?
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PolitiFact - Trump still didn’t tweet his thanks to Elon Musk, and isn’t back on TwitterDonald Trump didn’t thank Elon Musk on Twitter for letting him back on the social media platform, but images of supposed tweets from the former president suggest otherwise. Report Elon Musk plans to cut 75% of Twitter workforce Elon Musk plans to lay off most of Twitter’s workforce if and when he becomes owner of the social media company, according to a report Thursday by The Washington Post. prospective investors in his Twitter purchase that he plans to cut nearly 75% of Twitter’s employee base of 7,500 workers, leaving the company with a skeleton crew, according to the report.bought the X.Twitter ’s headcount drastically once his $44 billion deal for the social network goes through.Billionaire Elon Musk reportedly plans to lay off almost three-quarters of Twitter's employees if his purchase of the San Francisco-based social media company goes through.
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The newspaper cited documents and unnamed sources familiar with the deliberations. San Francisco-based Twitter and a representative for Musk attorney Alex Spiro did not immediately respond to messages seeking comment. When asked about the possibility of combining his companies under one umbrella, Musk said there's no obvious reason to do so right now. While job cuts have been expected regardless of the sale, the magnitude of Musk's planned cuts are far more extreme than anything Twitter had planned.
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On Tesla’s third-quarter 2022 earnings call Wednesday, Musk said he was paying too much for Twitter . Musk himself has alluded to the need to cull some of the company's staff in the past, but he hadn't given a specific number — at least not publicly. "It’s not clear to me what the overlap is," he said.
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"A 75% headcount cut would indicate, at least out of the gates, stronger free cash flow and profitability, which would be attractive to investors looking to get in on the deal," said Wedbush analyst Dan Ives. The effects could also be meaningful for San Francisco's economy. “That said, you can’t cut your way to growth." CLICK HERE TO READ MORE ON FOX BUSINESS Tesla Tesla fell in Thursday trading on concern about demand for the company's products in the face of a weakening global economy.
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“Although, obviously, myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter in my view is an order of magnitude greater than its current value,” Musk said." Ives added that such a drastic reduction in Twitter's workforce would likely set the company back years. Already, experts, nonprofits and even Twitter's own staff have warned that pulling back investments on content moderation and data security could hurt Twitter and its users.45 billion in third-quarter revenue, up 27% from the second quarter and 55% from last year's third quarter.
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With as drastic a reduction as Musk may be planning, the platform could quickly become overrun with harmful content and spam — the latter of which the Tesla CEO himself has said he'll address if he becomes owner of the company.” In a June 16 Q&A with Twitter employees, Musk said there needs to be a “rationalization of headcount,” and said: “Anyone who is a significant contributor should have nothing to worry about. After his initial $44 billion bid in April to buy Twitter, Musk backed out of the deal, contending Twitter misrepresented the number of fake “spam bot” accounts on its platform.
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Analysts expected $21. Then Twitter began allowing all of its employees to work from home forever starting in May 2020, months after the company was one of the first to send its employees home as the coronavirus began spreading around the globe. Twitter sued, and a Delaware judge has given both sides until Oct.
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28 to work out details. Its profits, meanwhile, were $3. The Delaware Chancery Court judge overseeing the case until Oct. Otherwise, there will be a trial in November.
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Copyright 2022 The Associated Press.6 billion reported during the same three-month period in 2021. All rights reserved.
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Twitter further reducing its footprint in The City — or eliminating it entirely — would add to a growing number of office vacancies, with officials still trying to determine the effects of those on property tax revenue. This material may not be published, broadcast, rewritten or redistributed without permission.05 per share, toping the estimate of 99 cents.
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