Connect with us

Hi, what are you looking for?

Business

Twitter shuts offices as hundreds of staff quit after Musk ultimatum

Hundreds of Twitter employees were said to have left the business rather than sign up to Elon Musk’s new “hardcore” working culture last night.

Reports of an exodus raised fears that the social network would suffer outages. Users said goodbye in large numbers, leading #RIPTwitter to trend on the platform. “The best people are staying, so I’m not super worried,” tweeted Musk, who completed his $44 billion takeover of Twitter last month. He thanked a user who offered to help to keep the website online.

Having already halved the group’s workforce of about 7,500 staff, Musk issued an ultimatum this week to those who remained: formally signal that they were willing to meet demands for “exceptional performance” by 10pm UK time last night, or leave. Many picked the latter.

Business briefing: In-depth analysis and comment on the latest financial and economic news from our award-winning Business teams. One-click sign-up
Late last night Twitter informed staff that it was temporarily shutting all buildings until Monday. It previously did so during the initial round of lay-offs.

In an email on Wednesday entitled A Fork in the Road, Musk had warned that employees who stayed at the company would be required to meet his conditions. Departing staff were offered three months of severance pay.

“Going forward, to build a breakthrough Twitter 2.0 and succeed in an increasingly competitive world, we will need to be extremely hardcore,” he wrote. “This will mean working long hours at high intensity. Only exceptional performance will constitute a passing grade.”

As yesterday’s deadline approached, the world’s richest man appeared to soften his tone, saying that those with managers willing to ensure that they are “making an excellent contribution” would be able to work from home.

Musk, 51, has sought to move fast to reduce spending at Twitter, overhaul its platform and reassure advertisers but his early initiatives, such as enabling users to pay for “blue tick” status, signalling that their account is verified, have struggled.

He has also faced criticism over his conduct since completing the takeover: he did not address Twitter’s workforce before starting lay-offs and some employees who publicly disagreed with or criticised Musk have been dismissed.

Read more:
Twitter shuts offices as hundreds of staff quit after Musk ultimatum

    You May Also Like

    Business

    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...

    Business

    1.22 billion people use Instagram every month. That’s a huge number of Instagrammers trying to hit it big on the platform all at the...

    Business

    Since the rise of online casinos, cybersecurity has become a major concern for both casino operators and players alike. The transactions that go around...

    Business

    The Home Office has made next to no progress in tackling criminal fraud during the past five years, despite it having become Britain’s most...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023 rightdecisionnow.com | All Rights Reserved