Twitter

Nearly 75% of Company Set to be FIRED

Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX is expected to cut loose nearly 75 percent of Twitter’s ‘bloated’ workforce once he closes the deal to purchase the big tech giant.

New reporting from The Washington Post on Thursday revealed Musk‘s intention which was foreshadowed by his early public statements during the debacle surrounding the takeover that the company was overstaffed.

The Post cited internal documents in their report that suggest whittling the staff down to about 2,000 critical staffers to attempt to salvage the social network’s profitability.

According to former Twitter data scientist Edwin Chen who spoke to The Post, the alleged cuts would be “unimaginable.” He suggested that while the company certainly needs to slim down, he feels that such cuts would result in Twitter users becoming exposed to hackers and unmoderated or even illegal content such as child pornography.

“It would be a cascading effect,” he told the Post, “where you’d have services going down and the people remaining not having the institutional knowledge to get them back up, and being completely demoralized and wanting to leave themselves.”

The Daily Caller News Foundation reported that former employees and financial experts have expressed concerns that replacing terminated employees would be difficult in the present economy.

“The easy part for Musk was buying Twitter and the hard part is fixing it,” Dan Ives, a financial analyst with Wedbush Securities said according to WaPo. “It will be a herculean challenge to turn this around.”
Startup crowdfunding company Stonks, which accrued $20 million worth of investor interest wrote that Musk aims to reduce “head count and costs across a bloated organization,”
According to The Daily Caller, Twitter’s present management and Musk have been given until Oct. 28 to nail down the particulars of the purchase. A Judge won’t permit a Twitter lawsuit against Musk to continue until then which could potentially force him to comply with the terms of his original purchase agreement.
Musk had initially backed out of the agreement after his own research and documents compelled from Twitter revealed that he and other investors were misled about the quantity of monetizable daily active users (MDAU), versus the number of bots on the network.
Musk’s team argued, using Twitter’s own data, that less than 16 million users actually see ads on the network.
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