Twitter office closed after mass layoff
Twitter employees are trembling as Elon Musk has led a crew of top executives from Tesla and his other companies.
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Twitter, the former worker’s paradise
Twitter has only made a profit for two in the past 10 years. At the same time, Twitter has 7,000 employees, all of whom earn at least $70,000 per year, and are pampered with things like yoga, diversity management, foosball, sunbeds and a wine tap. No wonder that of the major internet companies, Twitter is number three in terms of working conditions. Of Twitter’s operating expenses, around 6 billion a year, more than 2 billion goes to personnel expenditure.
In short, Twitter represents just about everything Musk deeply dislikes. So Twitter employees already saw the mood, and were understandably reluctant to trade their comfortable lives for the rather spartan working conditions in Musk’s companies.
Literally a hostile takeover
So, as is customary in America, Musk committed a heist technique. Every Twitter employee received an email telling them that the office was closed and they had to go home. This is common in America, as boss-employee relationships can change quickly. With this, the boss prevents the employee from carrying out sabotage actions before his dismissal, which is of course not inconceivable given the mutual hatred and envy.
More than half laid off
This leaves Musk free to make the selection between the staff that fits into his plan and the staff he wants to get rid of. Meanwhile, it is known that more than 3,700 of the more than 7,000 employees, slightly more than half, are losing their jobs. The reason, according to Musk: Twitter barely makes a profit. it is estimated that this layoff will save 1 billion in costs. With this, Musk can pay off the interest on the huge loan, which he took out to take over Twitter.
Asia hardest hit
Because of California’s dismissal protection laws, he won’t be able to permanently remove them from his workforce until early February. Twitter’s offices will remain closed until next Monday, November 7, 2022. The impact on workers in India and the rest of Asia is even more dire. 85-90% of them have now lost their job.
