Tesla CEO and Twitter chief Elon Musk has begun massive layoffs at the social media company. The billionaire explained that there is no choice since Twitter is losing over $4 million a day. “Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists,” he explained.
Mass Layoffs at Twitter
Twitter’s new boss, Elon Musk, has laid off about 50% of employees at the social media company. The billionaire sent an email to all Twitter employees Thursday evening informing them whether their employment has been terminated.
“In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” the letter states. “This action is unfortunately necessary to ensure the company’s success moving forward.”
The letter adds that by 9 a.m. PST on Friday, Nov. 4, “everyone will receive
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