With Elon Musk on the verge of taking over Twitter comes news that he plans to gut its workforce, with cuts of up to 75%. That should be a worry not only to the platform’s staff and users, but for those who care about the flow of information crucial to well-functioning democracies.
“We do not have any confirmation of the buyer’s plans following close and recommend not following rumours or leaked documents but rather wait for facts from us and the buyer directly,” Twitter general counsel Sean Edgett wrote in a memo seen by Bloomberg News following the report. Bloomberg News confirmed that potential investors were told of the plan for cuts, along with an effort to double revenue within three years.
That said, slashing 75% of staff is not the kind of surgical strike aimed at tidying up a bloated workforce and getting a company through a few quarters of rough weather. It’s a slash-and-burn tactic akin to private-equity investors hurriedly trying to boost the bottom line with little regard for the long-term future of the company.
It’s not a normal company though. In his own words, Twitter is “the de facto public town square” which would make him the city mayor. And given its role in disseminating news and information, Musk will in effect be the editor-in-chief of one of the world’s most powerful news outlets.We have already been granted a sneak preview of his editorial bent.
Source: News Formal (newsformal.com)
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Musk gutting Twitter would be a threat to us allWith Elon Musk on the verge of taking over Twitter comes news that he plans to gut its workforce, with cuts of up to 75%. Shamefull for TachCentral to support the Powers that Be, gang up against Musk, to try prevent Twitter from being 'independent' platform for free speech. Your true colors are showing, sadly
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Source: eNCA - 🏆 49. / 51 Read more »
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Elon Musk reportedly told investors he planned to get rid of nearly 75% of Twitter's 7,500 workers | BusinessinsiderElon Musk plans to gut Twitter's workforce, which stood to get smaller even if Musk didn't buy the company, according to a report by The Washington Post. is he overflowing twitter with ad,s lately ?.
Source: BISouthAfrica - 🏆 34. / 51 Read more »
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Source: eNCA - 🏆 49. / 51 Read more »
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