Twitter is losing almost $4 million each day, but CEO Elon Musk has justified the Twitter layoffs by noting that those who were let go were compensated for three months of their salary.
On Friday, the firm announced that it will be laying off a significant portion of its global workforce (about half of its 7,500 employees).
When the firm is losing over $4M per day, there is regrettably no alternative,” Musk said on Twitter on Friday night, referring to Twitter layoffs. Severance pay of three months was provided to everyone who left.
After completing his $44 billion ($39 billion) buyout of the platform last week, Musk is expected to implement sweeping cost cuts.
He shared several blog entries written by Twitter’s head of safety, Yoel Roth, with the captions “Here are the facts concerning where Twitter’s Trust & Safety and moderating capability is now.” Though we bid goodbye to several tremendously gifted friends and colleagues yesterday, our basic moderating skills are still in place. In contrast to the almost 50% reductions company-wide, only around 15% of our Trust & Safety organization was impacted by yesterday’s reduction in force, and that was mostly comprised of our front-line moderation team.
We had to limit access to our internal tools last week for security concerns, and that affected certain members of my team. Access will be completely restored in the coming days, and just a small fraction of the more than 2,000 content moderators engaged in the front-line review were affected.
According to our analysis, this access adjustment did not have any noticeable impact on the amount of material that needed to be moderated. A constant number of moderation actions each day was taken by us throughout this time.
Elon later tweeted, “Again, to be clear, Twitter’s strong commitment to content: Twitter Layoffs
Moderation is unaltered. Despite what you may have seen in the media, we have noticed a decrease in a hostile speech this week, sometimes even below our past standards.
Previously, he had blamed a decline in income on pressure from “activist organizations” on the platform’s sponsors to depart.
The Tesla owner has also responded to advertising-related tweets and memes, with one commenting, “Twitter will not ban truthful information about anything.”
Groups and individuals concerned with online safety have voiced their disapproval of Musk‘s intentions to increase free speech on the site and lift permanent bans imposed on unpopular personalities like Donald Trump.
At a campaign rally on Friday night in Illinois, Joe Biden said, “Now what are we all scared about?” Elon Musk knowingly invests in a network that disseminates false information worldwide. How can we expect young people to comprehend the gravity of the situation?
Twitter Layoffs 2022: Staff members are suing Musk for allegedly terminating them
On Thursday, a group of Twitter employees moved fast to launch a class action lawsuit in federal court in San Francisco on behalf of the company’s employees.
Twitter Layoffs and The lawsuit was filed in advance to protect Twitter employees from being pressured into giving up their rights, according to the main attorney on the case, Shannon Liss-Riordan.
“There’s a lot of fear flying among Twitter workers about what would happen today when half the staff will be let go,” she added.
Twitter Layoffs Today:
Twitter is being accused of violating state and federal employment laws by laying off employees without providing proper notice. Mass twitter layoffs need to be announced at least 60 days in advance, according to the Worker Adjustment and Retraining Notification Act (WARN).
With the hashtag #LoveWhereYouWorked, Twitter staff members express their appreciation for their time at the company and say they’re too.
On Friday, workers were instructed to remain inside and await an email with further instructions on their employment status. They monitored the #LoveWhereYouWorked hashtag for updates from their coworkers.
They thanked their coworkers and superiors, mourned the loss of the positive work environment they had come to appreciate, and voiced concern for coworkers who would lose benefits such as health insurance or a work visa.
Musk has long been dissatisfied with Twitter’s large headcount of about 7,500 people. Even though it was having financial difficulties, the company’s size had expanded in recent years.