Musk has already cut part of Twitter’s leadership team
Written by ABC AUDIO on October 30, 2022
Elon Musk has ordered company-wide layoffs at Twitter, according to The New York Times. On Saturday, the SpaceX and Tesla executive reportedly told managers to begin drawing up lists of employees to cut. Twitter did not immediately respond to Engadget’s request for comment.
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The Times could not determine how much of Twitter’s workforce Musk plans to let go – though some teams will be more affected than others. Before completing his $44 billion takeover of the company, Musk reportedly told investors he planned to lay off as much as 75 percent of Twitter’s 7,500-person strong workforce. In meeting with staff, Musk is said to have told employees he wouldn’t cut the company’s headcount so dramatically.
The forthcoming layoffs are likely to occur before November 1st. The timing may give Musk the opportunity to avoid paying out stock grants to outgoing workers. According to The Times, such payouts “typically represent a significant portion” of an employee’s pay. While Musk has shared some details about what moderation on the platform could look like under his watch, he’s been less forthcoming about his plans for the company’s workforce. On Saturday, he spent most of Saturday tweeting about food.
Musk has already cut part of Twitter’s leadership team, firing CEO Parag Agrawal and Chief Financial Officer Ned Segal on the day he took ownership of the company. According to The Guardian, those moves are expected to cost Musk at least $120 million in “golden parachute” payouts.
Elon Musk said he has ‘no idea who the CEO’ of Twitter is after being sent an auto-email saying ‘it’s time to start managing’
Elon Musk now owns Twitter after sealing his $44 billion takeover on Thursday.
The company sent him an email telling him to start a “Managing @Twitter 101” training course.
Musk tweeted that he has no idea who the CEO is yet, despite calling himself “Chief Twit.”
Even the world’s richest man may still have a thing or two to learn about running a company, according to the automated systems at his latest acquisition, at least.
Twitter sent Elon Musk an email telling him “it’s time to start managing @Twitter 101,” in reference to a training course about “what it means to be a good manager at Twitter.”
It came days after he finally took control of the social-media platform in a $44 billion deal that took months to close after the billionaire attempted to walk away.
Musk tweeted on Sunday: “Just received this email from Twitter. This is an actual, real email that was autogenerated.”
He joked: “So demanding to allow a mere 30 days to learn this priceless information! But Management 201 is such a tantalizing carrot.”
Musk’s comments come despite him being set up under internal profiles at Twitter, including a company directory and Slack, with the CEO title, two people familiar with the changes told Insider on Saturday.
Musk fired Parag Agrawal, the CEO of Twitter, as one of his first moves after acquiring the company, along with Ned Segal, the chief financial officer; Vijaya Gadde, the legal chief; and Sean Edgett, the general counsel.
A person familiar with the matter told The Information that Musk dismissed the executives “for cause” to try to avoid severance payouts and unvested stock awards, suggesting he had justification for their termination.
