#California: A lot of changes are happening in Twitter with the change of ownership Layoffs are underway The new owner of micro-blogging social site Twitter, Elon Musk, plans to start laying off workers at the company. This is reported in the news of the American newspaper New York Times. It is informed that a list of employees is being asked to be prepared for retrenchment. Some reports also claim that Musk will reduce headcount or the number of employees at the company, and that up to 75% of the company’s workforce will be laid off.
SpaceX and Tesla owner Elon Musk recently bought Twitter for $44 billion. Soon after the acquisition, he started making big decisions. CEO Parag Agarwal, legal executive Vijaya Gadde, chief financial officer Ned Segal and general counsel Sean Agate were removed following the Twitter acquisition.
Earlier, Musk said about Twitter that the social media company will create a council to monitor and process content that goes online, which will be tasked with keeping an eye on content. Posting will be more moderate as a result. A decision on the content or recovery of the account shall be made only after approval by the Council. Musk tweeted that no decision on content or opening or closing accounts would be made before the council meeting. Twitter currently has more than 7,500 employees.
The report also said that the layoff process at Twitter could continue until November 1. If employees are terminated after this date, stock grants may be made as compensation. Such grants are usually a significant portion of the employee’s salary. As a result, by laying off employees earlier, you can avoid donating masks