Just a few weeks ago the eternal soap opera between Elon Musk and Twitter seemed to be living its last days. Given the complicated situation that the tycoon was facing for the purchase of the platform, he decided to avoid the trial and go ahead with the purchase, however, this week he has again generated controversy by allegedly saying that he wanted to make a massive dismissal.
There are many users who are concerned about the acquisition of Twitter by Musk, they are mainly concerned about what this app will become since the owner of companies like Tesla is known for his perception of what freedom of expression is. But, at the end of the day if you don’t like the app you can go to another, who has it more complicated are their workers.
And it is that when it first came out that Musk wanted to buy Twitter, many of the workers expressed their concern . In this last year, more than 700 employees have left the company , but worst of all, this number could grow much more in the coming months, according to The Washington Post.
This is due to a series of documents and interviews to which the aforementioned medium has had access, where it is reflected that Musk told a group of investors that he wanted to reduce Twitter’s staff by 75%. Currently, the platform has around 7,500 employees, so if this is true, the final workforce could be just over 2,000 workers.
For its part, Twitter has told its employees that it is not considering mass layoffs right now , according to Reuters . However, the uncertainty continues to grow because the same internal documents say that the company’s management is considering salary cuts of 800 million dollars , whoever owns the app.
The uncertainty within the app does not stop growing , and it seems that the situation does not look very good for the company’s employees, since neither its CEO, Parag Agrawall, nor the platform itself have come out to deny this information , in fact, it seems that they are keeping silent because they know that there will be changes soon.
We will have to wait to see how events unfold, but the uncertainty continues to grow, since Twitter is getting 8% in the premarket. In addition, if the rumors are true, it would be necessary to see how it reduces the workforce so drastically without the entire structure of the app falling apart.
Mark Phil is a former market analyst and consultant. Mark in his 9-year career as an analyst, worked with top market players like Prodge LLS, Westat Inc. and Precision Opinion Inc. He moved towards writing in the year 2013. In the past, he undertook several freelance projects to begin his writing profession. Mark completed his economics degree from Columbia University. Along with performing sub-editorial duties, he is also writing a book on Market analysis.
