Ever since taking the reign of Twitter, Elon Musk has been working on a single agenda - Cutting back on costs and making Twitter a profitable company. To see through this agenda, Elon Musk now plans to fire around 3700 employees working at Twitter. In other words, he plans to fire half of the Twitter workforce, which has raised concerns about how the company will even function...
However, Elon Musk has yet to inform the affected employees about his decision yet. Sources inside Twitter believe that he would inform the staffers within a few days at best. Furthermore, Elon Musk also plans to reverse the work-from-home policy of Twitter and would ask the employees to get back to the office.
Affected Employees Might Get 60 days of Severance Pay
Those with information about the matter also said that Elon Musk is considering several different scenarios about letting go of 50% of Twitter employees. And one of these scenarios is to pay severance pay worth 60 days to the laid-off workforce.
In other news, Robert Kaiden (Chief Accounting Officer) of Twitter also left the company, which has added yet another top executive to the list of people who were fired or left on their own.
But what's the reason behind this rationale of Elon Musk? For starters, the billionaire is under pressure to cut costs and make Twitter profitable. And whenever someone is charged with making any company profitable, the first and easiest method is usually to fire the workforce!
In the case of Elon Musk, he is not sparing anyone, including the top executive positions. That's why after firing the Twitter CEO, Elon Musk has changed his Twitter profile bio to 'Chief Twit'! In fact, people with information on the matter have stated that Elon Musk plans to become Twitter CEO!
Besides cutting costs, Elon Musk is also thinking about introducing a monthly subscription fee for verified profiles (blue tick). For now, Elon Musk is thinking about putting a fee of $8 per month, which could help the company get some additional revenue stream.