Elon Musk is giving his justification for sending hundreds of Twitter staff packing … he says the hen app was hemorrhaging cash.
Papa Elon broke his silence Friday night time on the mass layoffs that occurred earlier within the day at Twitter, claiming he had no selection however to chop of us unfastened … he says the social media service was shedding over $4 million a day.
As you already know … Elon just lately purchased Twitter for a staggering $44 billion, with the assistance of loans from Wall Road banks and big-time buyers, together with at the very least $10 million from Diddy. So he is received to search out methods to chop prices.
Elon says the oldsters who had been laid off had been provided 3 months of severance pay, which he says is “50% greater than legally required.”
As we reported … Twitter misplaced about half its workers within the cuts, with roughly 3,700 folks being let go from the corporate.
Elon fired off a chilling memo to Twitter’s workforce Thursday, informing them layoffs had been coming … and staff fired again with a preemptive lawsuit.
Musk has been on a firing spree since inking the deal to purchase Twitter final month … promptly giving pink slips to a slew of prime execs.
Laid off Twitter staff are actually sharing their tales on social media … sarcastically posting goodbyes on Twitter.
However Elon’s saying his arms are tied. 🤷🏽♂️