November 15, 2022: -The internal communications stated that a significant number of Twitter’s contract users discovered they were suddenly released this weekend after they failed to access Slack and other work systems.
Almost 4,400 of its 5,500 contract workers are being cut, according to Platformer, which initially reported on the cuts.
Some of Twitter’s contract workers were overseas in India, among other locations. Full-time employees, questioned to remain un-named since they were unauthorized to talk on behalf of Twitter, added that they had no internal notice before contractors they were mixing with were let go.
Twitter has dismissed all its internal contacts team, according to these employees. They cracked bitter jokes that media outlets covering the company are filling the role of internal communications.
The cancellation of contractors’ work would mark the latest reduction at the social media forum, which laid off approximately half of its employees following Elon Musk’s acquisition of the company on October 28.
Twitter co-founder Jack Dorsey was deemed guilty the previous week for increasing the company “too quickly,” a day after the social media company did the layoffs. Dorsey personally endeavoured for Musk to take his company in a controversial leveraged buyout and has rolled his shares into the new holding company.
As of June 30, 2013, before Twitter went public, it had approximately 2,000 employees, the documents kept with the U.S. Securities and Exchange Commission stated. By this year, the company had grown to nearly 7,500 full-time employees.
Musk stated the layoffs in a tweet on November 4: “Regarding Twitter’s decreased in force, but there are zero choices when the firm is lost over $4M/day. Everyone exited was offered three months of severance, which is 50% over legally required.”
Since he took over, Musk has been informed by remaining Twitter employees that he is selling billions of dollars worth of Tesla shares, his electric vehicle firms, to “save” Twitter. It is still determined if Musk will continue selling Tesla shares to pay down Twitter’s debt.
He told Twitter workers that bankruptcy is not the question for the social media business between an economic downturn and as advertisers fled or paused on the spending platform during his rocky takeover.
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