"We recognize that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success moving forward," the email continued. Since Twitter is now a privately held company, it purportedly does not have to answer to shareholders about the job cuts. The memo added that “to help ensure the safety” of employees and Twitter’s systems, the company’s offices “will be temporarily closed and all badge access will be suspended." All employees were asked to stay at home on Friday and wait for an update on their employment status regarding their fate at the company. In the e-mail, Musk said that Twitter had to "go through the difficult process of reducing (its) global workforce on Friday" and that the move "is unfortunately necessary to ensure the company's success moving forward." The Tesla and SpaceX CEO also alluded to the company's staffing inadequacies when he first entertained purchasing the company earlier this year and tweeted last week that the "most messed up" thing at Twitter right now is that "there seem to be 10 people ‘managing’ for every one person coding." The layoff announcements don't come as a surprise, as Musk announced after the acquisition that he planned to lay off up to half of the company’s 7,500 staff members. Musk has acted swiftly since his $44 billion takeover of Twitter last week, firing CEO Parag Agrawal first and canning the entire board of directors, leaving himself temporarily as the sole director of the platform. “If your employment is impacted, you will receive a notification with next steps via your personal email.” “If your employment is not impacted, you will receive a notification via your Twitter email,” the memo continued. "Team, in an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday," said Musk in the e-mail, which was obtained by The Washington Post. EDT (1600GMT) Friday that informs them if they are staying or going. If he doesn’t join the board, Musk would not be subject to an agreement to keep his stake at no more than 14.9%.Elon Musk will begin layoffs at Twitter starting Friday.Īccording to various news outlets, a company e-mail sent Thursday evening by the social media giant's new boss notified workers that they will receive a notice by 12 p.m. The abrupt reversal ignites renewed speculation about Musk’s intentions for Twitter since disclosing he had taken a stake of just over 9% - becoming the social media giant’s largest individual shareholder. “ There will be distractions ahead, but our goals and priorities remain unchanged.” “I believe this is for the best,” the Twitter CEO said in an internal memo shared late Sunday. According to the CEO, Musk informed Twitter of his decision April 9, the same day he was slated to formally join the board. Musk held “many discussions” with Twitter’s directors but the entrepreneur ultimately declined their offer to take a board seat, Chief Executive Officer Parag Agrawal tweeted. This is a stunning twist to a week-long saga that’s captivated the tech community and touched off renewed speculation about the company’s future. Billionaire business magnate, Elon Musk has refused to join, Twitter board, Twitter CEO Parag Agrawal, has just announced.
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