In a highly anticipated move, the new owner of Twitter, Elon Musk, is expected to fire 3,700 employees on Friday. The mass layoffs equate to roughly half of the company. Most companies go through a phase of cleaning house after an acquisition – Twitter, on the other hand, is experiencing a house fire.
The terminated employees are to be notified tomorrow while Twitter’s current work-from-anywhere policy is also on Friday’s chopping block. All remaining employees are being forced to return to offices.
While Musk and his advisory team work to finalize the exact headcount for the layoffs and determine severance packages, one option includes giving terminated employees 60 days of severance pay. Layoffs and financial considerations for those affected are not the only thing Musk and his advisors are reviewing at Twitter. Some of the company’s key policies that Musk has been outspoken about are also up for review.
The massive job cuts will come as no surprise to employees who have been preparing for the layoffs since Musk took over the company last Thursday and immediately fired the CEO, CFO, and head of the legal department who was in charge of Twitter’s infamous censoring.
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In addition to the mass exodus to come Friday, Musk terminated a hand full of employees with director and vice president positions over the weekend. Meanwhile, Musk has ordered others with leadership positions within the company to make lists outlining which employees can be cut, with the product team being asked to reduce their staff by 50 percent. The termination lists were determined by employees’ contributions to Twitter’s code during their tenure.
Musk has utilized both managers at Twitter and director-level staff members from Tesla to review the lists and prepare for the mass firing. With Twitter already struggling to control what has been described by the head of safety and integrity, Yoel Roth, as a “focused, short-term trolling campaign,” the company can most likely expect more backlash to come as Musk continues to look for ways to cut costs at the company that he acquired for a staggering $44 billion.