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I’m days more than excited in the Twitter house from the settlement of Elon Musk, with a whirlwind of more or less verified indiscretions concerning the present and the future of the social network. The sure thing is that i layoffs so much rumored are real and have affected about half of the 7,500 employees that drove the platform forward. There is currently no exact number.
The cuts would be hitting all divisionsincluding the disinformation management team, hot topic ahead of the elections of midterm Americans next week. Twitter, for its part, ensures that its ability to intervene in terms of moderation remains intact despite the reduction in staff.
The layoffs are causing a lot of discussion because of the Musk’s “ruthless mode”: Employees were fired with an email at any moment, so much so that some have decided to sue the social network for the lack of 60 days notice, an aspect that should constitute the violation of the US WARN Act.
It will certainly not be a lawsuit and some potential compensation to stop someone who has “bet” 44 billion dollars on this new venture. On the other hand, Musk himself explained the urgency of the action in these hours with a tweet: Twitter would lose over $ 4 million a day and employees who were put on the door would be assured of three months’ pay, “which is 50% more than what is required by law”.
Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $ 4M / day.
Everyone exited was offered 3 months of severance, which is 50% more than legally required.
– Elon Musk (@elonmusk) November 4, 2022
And while Musk has reaffirmed that verified profiles will cost $ 8 a month, these days he is facing a more economically important problem: several companies, including Volkswagen, have announced plans to remove their ads from Twitter, suspending future investments. Uncertainty about content moderation policies and the future of the company are weighing on the allocation choices for advertising budgets.
Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists.
Extremely messed up! They’re trying to destroy free speech in America.
– Elon Musk (@elonmusk) November 4, 2022
Also in this case Elon Musk intervened, but this time certainly not to tone down. “Twitter had a massive drop in revenuesdue to activist groups lobbying advertisersalthough nothing has changed in the moderation of content and despite the fact that we have done everything possible to reassure the activists. They are trying to destroy free speech in America“.
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