San Francisco: Elon Musk has reportedly decided to lay off only 50 percent of Twitter’s employees to cut costs. The world’s richest man, Elon Musk, recently bought the popular social networking site Twitter for Rs 35 lakh crore. On the same day he became owner, he fired Twitter CEO Barak Agarwal, Chief Financial Officer Ned Siegel, and senior legal counsel Vijaya Gade. Following this, he dissolved the executive committee with Kundu and took over as its sole chairman.
In this case, Musk has decided to control the management costs because he bought Twitter at a high price. As part of this, he has decided to lay off 3,700 employees, according to his close advisers. It is almost 50 percent of the total employees. It is expected that the notification of this dismissal will be released in the next few days. Twitter currently has 7,500 employees. When Musk bought Twitter, it was reported that 75 percent of them would be laid off. Now, as only 50 percent are planned to be laid off, the other 25 percent are likely to lose their jobs. As a result, Twitter employees are in a panic as to whose job will become vacant.
* Also attached to the Work Pram Anywhere scheme
The majority of Twitter employees currently work in a ‘work from anywhere’ mode. Musk has decided to scrap the practice. Thus, all the employees are ordered to come to the office and register their attendance. However, it is said that only a limited number of employees will be allowed to work in alternate modes as per the circumstances.
* 12 hour work
Moaning staff
Musk has ordered Twitter employees to work 12-hour days under the name ‘Target’. Also, he makes me work 7 days a week. Due to this, the employees stay at the office at night to work without even going home. Most of the employees working at Twitter are average, middle class people. As a result, they are working day and night to avoid losing their jobs.
* 2 months salary
* Musk and his advisory board have a plan in place to deal with the potential problems of laying off 50 percent of employees at once.
* The retrenched employees will be paid 2 months salary along with proper compensation.