Elon Musk’s proposal for changing the firm is incompatible with the way it has been handled for years. Elon Musk’s ownership will cause an immediate disruption to Twitter’s operations globally. A big question raised in all the minds that Can Twitter Survive Now?
More than 90% of Twitter Inc.’s employees in India were laid off over the weekend as part of Elon Musk’s global hiring freeze. It drastically reduces the company’s engineering and product personnel in a region with the potential to develop.
Due to the sensitive nature of the situation, one person inform that the firm had just over 200 employees in India before the cutbacks.
Global internet businesses like Twitter, Meta Platforms Inc. and Google depend on India’s sizable potential pool of new online users as a vital growth engine. However, the businesses must comply with employment laws designed to restrain the nation’s major digital corporations.
After six months of public and legal battle, Elon Musk finally complete his $44 billion acquisition of Twitter Inc. According to people familiar with the situation, placing the world’s richest man in charge of the faltering social network.
One of Musk’s first actions was to replace the Twitter leadership.
According to one person following professionals has been fired from the company.
1) Twitter CEO Parag Agrawal,
2) Director of legal, policy, and trust Vijaya Gadde,
3) Chief financial officer Ned Segal, who joined Twitter in 2017
4) General counsel Sean Edgett, who has served as Twitter’s general counsel since 2012.
According to two of the people who requested anonymity, because the details are private, Edgett was led out of the building.
Twitter will now be a private corporation and shareholders will have $54.20 per share in the market.
The deal come to an end which started in January with the billionaire quietly building up a sizable investment in the business. His mounting displeasure with the way it’s handled, and an eventual merger agreement that he later spent months trying to do like before.
On October 4, Musk decide to move forward with the terms he first suggests. And then a Delaware Chancery Court judge give time to both the parties until 28th October to complete the transaction.
Now Elon Musk, who is the current CEO of SpaceX and Tesla Inc., also has power of Twitter as well.
Which he frequently uses but openly criticizes and which he promises to fundamentally change in the operations.
Musk’s ownership will bring quick changes to Twitter’s operations the company’s operations will immediately become disrupted by his ownership.
He has stated that he wants to protect “free speech” on the social network.
Which probably require lowering the standards for content moderation.
He also plans to restore some well-known accounts that were suspended from Twitter for breaking the rules. This includes the account of former US President Donald Trump and Guide4info as well.
More generally, Musk’s activities giving a sign to reverse years of Twitter’s attempts to curtail bullying and harassment policies on the social media site.
As the deadline come closer, Musk started to personalize the business.
He starts this by tweeting a video of himself entering the office and altering his platform designation to “Chief Twit.”
According to those with knowledge of the situation, he scheduled meetings between Tesla engineers and Twitter product executives.
And intended to speak to the workforce on Friday. As of noon on Thursday in San Francisco, Twitter’s developers were no longer able to make code modifications. According to the sources, this was the as part of an attempt to guarantee that nothing about the product changes before the transaction closes.
Since the merger approve in April, Twitter staff have been preparing for layoffs. And Musk mention the concept of cost reductions to banking partners when he was originally soliciting money for the purchase.
According to a source familiar with the situation earlier this month, Musk inform some prospective investors that he plan to reduce within three years.
The aims to reduce 75% of the company’s personnel, which now numbers approximately 7,500.
According to those familiar with the situation, when Musk visit Twitter’s headquarters on Wednesday, he informs the employees that he did not intend to fire 75% of the workforce after taking over the firm.
In June, in all-hands meeting following his purchase agreement, Musk inform that Twitter “needs to get healthy and freedom of speech,” a reference to trimming costs.
He has also said only, “exceptional” employees will be able to work from home, and everyone else must come to the office on the regular basis. San Francisco-based Twitter was one of the first large companies to promise all employees they could work from anywhere “forever.”
According to one of the persons, almost 70% of the jobs that were eliminated from the product and engineering team in India. Which operate on a worldwide mandate. When twitter staff ask this question, Can Twitter Survive Now? Twitter staff stay silent and did not reply anything.
According to one Twitter staff, employees from below departments has been fired also.
2) public policy and
3) corporate communications.
Twitter San Francisco, California, office cut the number of employees it had worldwide by nearly 3,700, or about half.
Twitter India offices situated in New Delhi, Bengaluru and in Mumbai’s financial district.
Globally, Twitter employs roughly 3,700 employees, According to Bloomberg News.
Musk is forcing the remaining team members to work for the new features rapidly, and in some cases, workers have stayed late and sleeping in office to fulfil deadlines.
We will keep on posting new updates on Twitter Layoff and on Can Twitter Survive Now?
Stay connected and keep reading articles on Guide4info. You can bookmark this website and keep checking our latest articles on regular basis.