Amid the uproar, the much-anticipated layoffs collapsed Twitter Inc TWTR chairman Elon Musk Now he seems to be defending his decision Laying off nearly 50% of the workforce from companies around the world.
On Friday Twitter allegedly Thousands of employees laid off in departments across the company, including more than 983 employees in California according to CNBC. Around 3,700 people are expected to be affected by the ongoing layoffs. Twitter employees from departments such as marketing and communications, AI, search, public policy, wellness, and other teams tweeted about their layoffs.
Musk too Tesla Inc TSLA CEO, has reportedly been sued over his plans to cut his workforce. The class action was filed in federal court in San Francisco, California Lawyer Shannon Liss Riordan.
Several Twitter employees have filed a complaint Class action lawsuits alleging copyright infringement by Twitter the state and California Worker Adjustment and Retraining Notification Act (WARN Act) following layoffs of employees, CNN reported.
Meanwhile, Musk took to Twitter on Saturday to justify his move, saying there was no choice when the company was losing millions of dollars a day. He also said that anyone who dropped out was offered fair compensation.
Unfortunately, in terms of reducing Twitter’s power, there is no choice when the company is losing over $4 million a day.
All those who left were offered 3 months’ severance pay, which is 50% more than required by law.
— Elon Musk (@elonmusk) November 4, 2022
Also read: Here’s why Kevin O’Leary is banking on Elon Musk coming out on top in the Twitter deal
Musk tweeted last week, “Twitter has suffered a massive drop in revenue because activist groups have been pressuring advertisers, although content moderation has not changed and we have done everything we can to placate the activists. Extremely screwed up! They’re trying to destroy free speech in America.”
Musk wants to cut the company’s costs, not only because Twitter is facing a high fire…
[ad_2]
Source story