Elon Musk Aims Quick To Disrupt Twitter With Jobs
People with knowledge of the situation claim that Elon Musk has started making preparations for widespread layoffs at Twitter as the billionaire businessman shakes up the social media giant just days after finalizing the $44 billion.
According to two people with knowledge of the situation, Elon Musk has asked managers and consultants to suggest which employees should be fired and which should be kept on.
According to the people, Musk is not requesting a specific number of layoffs from Twitter‘s 7,500 employees. According to one of the persons, he prefers to dismiss those who do not support him as a leader.
Musk’s spokesman declined to respond.
After Musk completed the transaction to take the San Francisco social media company private on Thursday evening, he swiftly fired a number of key officials, including the CEO and the head of legal, policy, and trust, Vijaya Gadde.
The executives were anticipated to get golden parachutes as per the merger deal; in Agrawal’s case, this amounted to approximately $60 million.
Two sources with knowledge of the case said that Musk fired the executives “for reason,” which implied that he claimed to have a legitimate legal justification for doing so. As a result, the payouts may be void.
According to one of the persons, Musk’s claim, in this case, is that Twitter has been poorly managed and that without his proposal, the stock value of the firm would have plummeted.
A person acquainted with the executives’ thinking claims that they are considering their legal alternatives before making a choice.
It is unusual to refuse severance benefits tied to purchases, and the “for cause” clause often demands that misbehaviour occurred.
Elon Musk deal’s completion of $44 billion for Twitter
The $44 billion deal’s completion ushers in a new era for Twitter, one in which the CEO of Tesla and SpaceX will work to transform the company’s failing operations, spur product innovation, and alter its content moderation.
Elon Musk, who is now going by the handle “Chief Twit,” was active on Twitter over the weekend.
He shared a penis meme, made fun of an automated message that was ostensibly sent to him but was actually intended for new hires, and made hints about upcoming policy changes.
When asked what was “most messed up” at Twitter, he made a hint about impending layoffs: “There seem to be ten people managing for every one person coding.”
He also claimed on Sunday afternoon that it was “false” that layoffs would take place prior to November 1 — the next vesting date for employee stock grants — in order to avoid paying fired workers their full salary.
Musk has started staffing a war room of trusted lieutenants within Twitter’s headquarters to assist him in evaluating and better comprehending the workings of the company before determining which course of action to pursue.
Alex Spiro, Musk’s outspoken personal attorney, handles legal and policy matters for the company and was with Musk at Twitter’s San Francisco offices on Friday, according to two sources.
Musk, on the other hand, has concentrated on product
He has previously stated that he would personally “oversee software development” instead of appointing anyone to any C-suite executive posts, according to private messages revealed in court documents.
Four sources claimed that David Sacks, a venture capitalist and close friend of Elon Musk, is a member of the team assisting Elon Musk wife
He is also receiving advice from Antonio Gracias, a former Tesla director and the founder of the private equity firm Valor Equity Partners, a source claimed.
Former Twitter product director and venture entrepreneur Sriram Krishnan also tweeted to indicate that he was “helping out” Musk “temporarily with some other brilliant individuals.
Elon Musk Twitter is the one who can make it happen, in his words, I (and a16z) believe this is a highly important enterprise that can have a great impact on the globe.
One of the equity sponsors of Musk’s proposal to purchase the business was Silicon Valley-based a16z. The war room, the planned layoffs, and some of Musk’s crew were all initially revealed by the New York Times.
Twitter’s director of machine learning ethics
Twitter’s director of machine learning ethics, transparency, and accountability, Rumman Chowdhury, confirmed in the media on Friday that engineers were initially instructed to print out the last 30 to 60 days’ worth of code so they could review it with Elon musk height before being told to shred the documents instead.
Happy Friday to all, another staff member wrote beside a photo of printed-out pages of code. To prevent employees from going rogue during the handover.
Twitter’s source code is momentarily frozen, save for important updates, until early next week, according to sources. Elon musk age, who calls himself a “free speech absolutist,” has already drawn criticism for his proposals to relax Twitter’s moderation standards, particularly from businesses that do not want their advertisements to appear next to offensive material.
He reposted a statement from Twitter’s current head of safety and integrity, Yoel Roth, on Sunday in which he claimed that the company’s guidelines for blocking hate speech remained unchanged.
In the wake of the deal, a tiny group of mostly fictitious accounts had engaged in a “trolling campaign,” publishing offensive content on Twitter, he continued.
A moderation committee with widely different opinions
A moderation committee with widely different opinions was another promise Musk made last week. He added that no major content decisions or account reinstatements will happen before that council convenes.
Elon Musk has already removed a tweet he published early on Sunday that spread the erroneous rumor that House Speaker Nancy Pelosi’s husband was beaten up in his house on Friday by a male prostitute rather than a psychotic attacker.
Musk posted early on Sunday, “There is a slight chance there might be more to this story than meets the eye,” and then later deleted the post. Some of the lower-level staff were pessimistic internally.
One person called the atmosphere tense. Another said it was demoralizing to witness other Twitter managers bowing to Musk and expressed fears of being fired. Requests for comments on Twitter were not answered.