Twitter sacked half of its 7,500-strong staff on Friday as new owner Elon Musk launched his major overhaul of the troubled company just a week after his blockbuster takeover. READ:
SAN FRANCISCO, United States — Twitter sacked half of its 7,500-strong staff on Friday as new owner Elon Musk launched his major overhaul of the troubled company just a week after his blockbuster takeover.
“Woke up to the news that my time working at Twitter has come to an end. I am heartbroken. I am in denial,” said Michele Austin, Twitter’s director of public policy for the United States and Canada. The cull is part of Musk’s push to find ways to pay for the mammoth $44 billion deal for which he took on billions of dollars in debt and sold $15.5 billion worth of shares in Tesla, his electric car company.
The moves would help overcome the potential loss of advertisers, Twitter’s main source of revenue, with many of the world’s top brands putting their ad buys on hold, spooked by Musk’s well-known disdain for content controls.The mercurial tycoon on Friday complained on Twitter of a “massive drop in revenue” that he blamed on “activist groups” that were pressuring advertisers.
“We are witnessing the real time destruction of one of the world’s most powerful communication systems. Elon Musk is an erratic billionaire who is dangerously unqualified to run this platform,” said Nicole Gill, Executive Director of Accountable Tech.
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