Approximately half of Twitter’s 7,500 employees have now been fired by Elon Musk, decimating whole teams and virtually wiping them out in time for the US midterm elections the following week.
According to tweets from fired staff members and sources familiar with the situation, the parts of Twitter most impacted by Musk’s cuts include its policy, communications, tweet curation, ethical AI, data science, research, machine learning, social good, accessibility, and even some core engineering teams. Following Musk’s firings of Twitter’s senior leadership last week, more company leaders have also been let go, including Arnaud Weber, VP of consumer product engineering, and Tony Haile, a senior director of product in charge of Twitter’s work with news publishers.
Twitter Blue is scheduled to launch in India in less than a month, according to Elon Musk, the company’s new CEO. This happened not long after some regions’ $8 verification services were live. The new authentication system for Twitter Blue is now only accessible on iPhones in the US, Canada, Australia, New Zealand, and the UK.
The most recent message on the iPhone’s Twitter app stated: “We’re starting to roll out some fantastic new features to Twitter Blue today, and there will be more very soon. If you sign up right away, you can get Twitter Blue for $7.99/month.”
Why fire half the company and what's happening to the fired employee?
On Friday, Twitter let go of close to 3,700 workers before getting in touch with hundreds more. Layoffs, according to Musk, are necessary to maintain Twitter’s financial viability. When he gained control of Twitter, he also removed the company’s top executives, including Parag Agrawal, Ned Segal, and Vijaya Gadde, the head of policy. Additionally, he dissolved Twitter’s board of directors, leaving him as the sole director on the board at the moment.
Musk has acknowledged that the business is losing money, and it has been previously stated that his $44 billion purchase of Twitter greatly overvalues the company. Twitter faces “quite substantial income and expense difficulties,” according to Musk.
Twitter reported a $270 million loss and a 1% reduction in sales for the April-June period. Musk claimed in a tweet that there was nothing Twitter could do to stop losing more than $4 million daily.
The remaining Twitter employees anticipate that the company will struggle in the near future to maintain vital infrastructure due to Musk’s extensive layoffs and his directive to slash expenses in areas like cloud hosting. Musk’s layoffs started on Thursday night, not long after an internal memo that said the company would “go through the arduous process of reducing our worldwide staff” was sent out. A different unsigned email headed “Your Role at Twitter” informed affected employees of their employment status before they even learned they were locked out of their work accounts.
Some Twitter workers have already sued the corporation, alleging that it broke California’s WARN Act and the Worker Adjustment and Retraining Notification Act (WARN), which mandates that businesses give at least 60 days’ notice before mass layoffs. Others assert that they are seeking legal advice over the difference between Musk’s one-month severance package and the amount he was supposed to receive prior to the merger.
"Your feedback is appreciated. Now pay $8" - Elon Musk
After an earlier rumor suggested he would demand even more for the privilege, Twitter CEO Elon Musk now says he wants to charge customers $8 per month to retain their verification badge or obtain one on the platform. Musk explained his strategy on Twitter and referred to the present procedure for awarding the blue checkmark badges as “bulls**t.” The $5 per month subscription service known as Twitter Blue would include the blue check feature, which shows that a user’s identity has been verified.
“Power to the people! Blue for $8/month,” he wrote.
According to him, the new approach will give Twitter a revenue source to compensate content producers. A secondary tag will appear beneath a public figure’s name, just like there is one now for politicians, he added. The business announced the functionality would be available to customers in some countries who subscribe to its Twitter Blue service for $7.99 (£7) per month in an update for Apple devices. On account of worries that the site would be overrun with fraudulent accounts, the policy adjustment is divisive. The policy modification could increase concerns that anyone willing to pay a monthly charge could imitate public leaders, celebrities, journalists, and corporations.
The price for Twitter Blue will be “adjusted by nation proportionate to purchasing power parity,” as Musk had previously stated. But he had left out the details of how the “buying power” would be determined.
According to Musk, users will also receive half as much advertising for the $8 monthly fee, precedence in answers, mentions, and searches, and the ability to submit lengthier movies and music. For publishers who are “ready to collaborate with us,” according to him, there would be a “paywall bypass.”
The very next time I read a blog, I hope that it wont disappoint me as much as this one. I mean, Yes, it was my choice to read through, however I genuinely believed you would have something interesting to talk about. All I hear is a bunch of crying about something you could fix if you werent too busy searching for attention.
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