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The mass layoffs at Twitter have begun • londonbusinessblog.com

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UPDATE: Based on tweets from employees showing they can no longer access their corporate emails and Slack, layoffs are beginning to fall:

according to an internal memo sent to Twitter employees, the new management under Elon Musk will begin taking layoffs Friday morning. These layoffs have been rumored since the Musk acquisition, with the most recent report estimating that half of the 7,500 employees will lose their jobs.

Thursday evening, all employees received an email stating that they will be notified of their employment status Friday at 9 a.m. PT. Each email is sent with the subject line “Your role at Twitter.” If an employee keeps his job, he will be notified via his corporate email – if he is fired, he will receive a notification to a personal address.

“To help ensure the security of every employee, Twitter systems and customer data, our offices will be temporarily closed and all access to badges will be suspended,” the email read. is reading. “If you are in the office or on your way to an office, please go home.”

The email was impersonally signed ‘Twitter’.

According to an after from a Twitter employee, employees flooded an internal Slack channel with blue heart emojis as they wait to learn their fate tomorrow. (Update: The tweet has since been deleted.)

Musk’s team has already tried to evaluate the productivity of Twitter employees by asking technicians to… print out the code that they have written in the past 30 to 60 days. Musk also brought in Tesla engineers to view the Twitter code.

However, it is not clear which divisions of the company are affected. At Tesla, Musk took out the entire PR team a few years ago — that idea is likely to make him lose Twitter’s PR team.

Musk’s deal to buy Twitter involved the company taking on $13 billion in debt from banks, meaning Twitter will owe about $13 billion $1 billion a year in interest payments.

According to a report by platform game, Twitter’s newsletter service Revue will be discontinued by the end of the year. Revue was acquired by Twitter in January 2021 for an undisclosed amount. The report also says Notes, a longform posting feature, is on hold, as is Twitter’s plan to build crypto wallets.

When Musk first took over the helm last week, he immediately fired four key executives: CEO Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett and Head of Legal Policy, Trust and Safety Vijaya Gadde. Twitter’s Chief Consumer Officer Sarah Personette and Chief of People and Diversity Dalana Brand resigned the following day.

This story develops…


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