It is a sometimes recurrent practice in the business world: when a company is sold and new management enters it, existing employees are sometimes fired and replaced by others. This is what Elon Musk could intend in his umpteenth turn of the screw with Twitter. And it is that up to 75% of the employees who work in this social network could have their days numbered within the organization.
At least this is what The Washington Post has just published. The new owner of the short message social network, Elon Musk, could be planning a mass layoff. Or what is the same 75% of the 7,500 employees who are currently working on it.
The objective? The reduction of costs, although the doubt could also be another, Would Twitter be viable with only 25% of current employees? Or are we rather faced with dismissals for subsequent new hires?
October 28 is Musk’s deadline to buy Twitter. This was ruled by a Delaware judge. And if the parties don’t reach an agreement, the trial will resume sometime in November.
Since it was announced that Tesla’s powerful product architect would be interested in acquire it for 44,000 million dollars the news about it has been practically constant. Even also information that assured that Elon Musk finally did not want Twitter, that he demanded changes in his financing, that he wanted greater control over the bots…
Objective: less expenses and double income in three years
I do not know yet what the billionaire businessman will do if he finally decides to buy it, although everything points to the fact that this time the operation will be carried out. According to the aforementioned newspaper, Twitter has frozen the capital awards for its employees.
Twitter’s downsizing, in any case, is not new news. Before Musk wanted to buy it, those who are still its current owners had already planned job cuts in a staff, in his opinion, oversized.
The cuts would affect 25% of workers, a figure much lower than the 75% that Musk could carry out. Only the dismissal of 25% of workers would save about 800 million euros per month in payroll.
Musk has always defended that he is “overpaying” for Twitter and that his goal is double income in three years. In any case, the history of Musk and Twitter has not yet said the last word…
