Elon Musk wants to lay off 3,700 people from Twitter, and the cuts have already begun – Reuters

Twitter, which was bought by billionaire Elon Musk, has notified employees that it will publish on November 4 an official letter containing information about the significant reductions in the number of employees. This will be done to optimize costs.

This was stated by Reuters with reference to the company’s internal email.

“In an effort to get Twitter back on track, we will go through the difficult process of reducing our overall headcount on November 4th.”The message says.

The agency learned about the company’s internal plans, according to which Elon Musk plans to lay off almost 3,700 Twitter employees, or almost half of the team. In this way, he wants to reduce the company’s costs.

Twitter employees were also told in the message that their offices will be temporarily closed and access to badges will be suspended for this “To help ensure the security of every employee, as well as Twitter’s systems and customer data.”

The company said that employees who are not affected by the layoffs will be notified at their work email addresses. Employees affected by the reduction will be notified of further actions to their personal email addresses.

Some employees reported on Twitter that they were being denied access to the company’s IT system. They feared that this might mean that they had been expelled.

Reuters reports that Twitter employees filed a class-action lawsuit against the company on November 3, alleging that Twitter conducted mass layoffs without 60 days’ notice. This violates federal and California law.

According to two sources familiar with the matter and an internal Slack memo seen by Reuters, Musk directed Twitter teams to achieve annual infrastructure cost savings of $1 billion.

He has already fired the company’s CEO and senior financial and legal executives. Twitter also left last week the heads of the company’s advertising, marketing and human resources departments.

Musk’s first week as a Twitter owner was marked by chaos and uncertainty, according to Reuters. Two company-wide meetings were planned, but canceled. Staff told the agency that they should gather information through media reports, private message groups, and anonymous forums.

Shortly after the email reached employee inboxes, hundreds of people flocked to the company’s Slack channels to say goodbye, two employees told Reuters. The sources said that someone invited Musk to join the channel.

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What did?

At the end of April, Elon Musk concluded an agreement to buy the social site Twitter: for about $44 billion. Yes, the entrepreneur should have been the owner of Twitter, and the company – private.

However, in July, Musk announced the termination of the contract, accusing Twitter of violating several contractual obligations. According to his lawyer, the company did not provide the businessman with the relevant business information that he requested.

Elon Musk has made it clear that he is delaying the Twitter purchase until the company proves that spambots make up no more than 5% of the social network’s 200 million users.

Then Twitter sued Musk, saying his exit strategy An example of hypocrisy. Musk filed a counterclaim, accusing Twitter of data fraud, which, according to the businessman’s lawsuit, should have allowed him to renege on the signed agreement.

But in the end, about two weeks before the trial, Musk agreed to buy Twitter on initial terms.

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