We’d like to send our best wishes and a polite and professional warm welcome to our brand new blog that focuses on the latest developments concerning the recent change in the ownership of Twitter as well as the massive reductions in staff that came with it. We recognize that this has been an extremely difficult time for all who have been affected by the changes, and we hope to provide an understanding of the circumstances. First and foremost, we want to assure everyone that everyone who has been dismissed from Twitter are receiving their complete severance packages in accordance with the law. Everyone who is laid off from Twitter will receive three months’ worth of severance. This is half the amount of the legally required amount.
1. The reason why Twitter cut off thousands of employees?
The main reason for the mass firings at Twitter was due to the company’s financial difficulties. Twitter is consistently losing funds since the company went public in 2013. In 2016 the company reported its first profit in a quarter. Twitter lost $167 million in the initial quarter of 2017. To cut costs, the company has been changing its practices, including reducing the number of employees it employs.
2. What exactly did Elon Musk’s plan to manage this situation as Twitter’s new owner?
It’s intriguing to look at the reactions of Twitter’s brand new proprietor, Elon Musk, to the news that employees were removed from the company. There is a sense that he has not taken the news well, and has vowed to take the company to court. This is not surprising, considering the high-profile nature of Twitter as well as the risk of negative media coverage. One thing to keep in mind is however that Musk is known for his impulsiveness and rashness. unpredictably and reckless. This could harm its image.
3. How many jobs were created as a result of the layoffs?
There is a chance that around 3000 jobs were created a result of the layoffs at Twitter. The increased use of Twitter after Elon Musk’s announcement that he would typically use the platform, is the primary reason behind the growth in demand. These layoffs also resulted in increased innovation and efficiency within the business since employees are focussed on creating fresh and exciting features for the platform. It has led to better user experiences on the platform, which is likely to bring more users over time.
4. What was the reaction from the trade unions and politicians to the reductions?
Different reactions were shared by both trade unions and the political class regarding the reductions. Certain politicians criticized the layoffs, calling them “heartless and cold-blooded.” The trade unions supported the cuts and said they could reduce the cost of business.
The reductions in staff at Twitter were a controversial subject, with many debating whether or not the reductions were justified or legally enforceable. A majority of employees who were who were affected by the cutbacks are scheduled to receive compensation for their work until the 4th of January. This is good news to those who are affected by the cuts and will hopefully ease their shift to new jobs.