As part of Elon Musk’s strategy to revive Twitter’s growth, 50% of the workforce has been laid off, representing around 3,700 jobs. The entrepreneur justified this choice by the significant losses that the social network suffers daily.
https://cryptoast.fr/50-pourcents-effectives-licencies-twitter-perd-plus-4-millons-dollars-jours/
Twitter is laying off half of its workforce
While it is common to say that everything is bigger in the United States, this obviously also applies when it comes to restructuring plans. And for good reason, after the takeover of Twitter by Elon Musk, the latter dismissed 50% of its workforce. This measure would thus represent a loss of approximately 3,700 jobs.
The rumor that had been relayed by our colleagues at Bloomberg was quickly confirmed by Yoel Roth, the security manager:
Here are the facts about where Twitter’s Trust & Safety and moderation capacity stands today:
tl;dr: While we said goodbye to incredibly talented friends and colleagues yesterday, our core moderation capabilities remain in place.
— Yoel Roth (@yoyoel) November 4, 2022
In this thread in which he explains the consequences of these dismissals on his moderation team, Yoel Roth also indicates that his private messages are openin order to recommend to recruiters “incredibly smart talents“.
If this strong measure can cause a reaction, Elon Musk sees it as necessary for the good of the company :
“Regarding layoffs at Twitter, unfortunately, there is no other choice when the company is losing over $4 million a day. Those affected were offered 3 months of severance pay, which is 50% more than the legal requirement. »
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An entrepreneur known for his spontaneity
As for Twitter’s falling revenue, Elon Musk accuses “a group of activists” of putting pressure on advertisers, so that they reduce their spending on the social network. He also explains that these same “activists” are trying to destroy free speech in the United States through their actions:
Twitter has had a massive drop in revenue, due to activist groups pressing advertisers, even though nothing has changed with content moderation and we did everything we could to appeal the activists.
Extremely messed up! They’re trying to destroy free speech in America.
— Elon Musk (@elonmusk) November 4, 2022
Of course, without knowing what is really going on behind the scenes, it is difficult to comment objectively on the words of the entrepreneurespecially since this one is used to spontaneous and contradictory tweets.
Proof of this is that, while he places himself here as a defender of freedom of expression, he wondered less than 24 hours earlier “on the legality of gossip» :
Why is small talk even legal!?
— Elon Musk (@elonmusk) November 4, 2022
We will therefore have understood it, it is not always wise to take Elon Musk at face value.
On a more down-to-earth note, Twitter isn’t the only tech giant facing downsizing, albeit at a particularly high rate. In more measured proportions, the payment provider Stripe, for example, separated from 14% of its staff the last days. Lyft, a competitor of Uber, also parted ways with 13% of its employees.
If the cuts made at Twitter are rather part of a change of strategy inherent in its new ownerit should also not be forgotten that the current economic situation has a role to play in the difficulties of the company.
👉 Also in the news – Twitter takeover: Changpeng Zhao and Binance want to end bots
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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