It’s Friday, so meaning it’s time for the most recent episode of ‘What’s Occurring within the Elon Musk/Twitter takeover?’
And in the event you’re a Twitter worker, this week’s information will not be nice.
As per The Washington Submit:
“Musk advised potential traders in his deal to purchase the corporate that he deliberate to eliminate almost 75 % of Twitter’s 7,500 employees, whittling the corporate all the way down to a skeleton workers of simply over 2,000.”
Musk’s deliberate workers cuts have been well-documented – again in Could, as a part of a leaked overview that Musk had despatched to potential traders, it was reported that Musk was trying to reduce round 1,000 workers on day one, earlier than ultimately including again over 2,700 staff by 2025, according to platform progress.
No person is aware of how, precisely, Musk plans to stimulate that progress, and I’m not satisfied Elon does both, however his perspective, at current, appears to be that Twitter is bloated, expensive and underachieving.
Musk really summarized such himself, when he was questioned in regards to the Twitter deal in Tesla’s third quarter earnings name earlier within the week:
“I feel it’s [a massive asset] that’s form of languished for a very long time, however has an unimaginable potential.”
Musk additionally famous that he and his fellow traders are ‘clearly overpaying’ for the app. Besides, he’s excited for what comes subsequent:
“The long-term potential for Twitter, in my opinion, is an order of magnitude larger than its present worth.”
That positive appears like somebody who’s able to pay up and take over on the app – although the deal is nonetheless not technically finalized on the time of writing.
Both means, important considerations nonetheless linger round Musk’s grand Twitter plan – particularly when he’s tweeting out memes like this:
Musk later deleted the tweet – and naturally, as numerous individuals who’ve handled Musk have famous, his Twitter persona and precise real-life method are very totally different. However nonetheless.
He additionally posted, then deleted, this:
Kanye – or ‘Ye’ as he now prefers – moved to purchase free speech social community Parler this week, and the truth that Elon’s even joking about merging these apps appears to not be an incredible signal for Twitter’s future, particularly if he’s going to, you recognize, eliminate all of the workers that may theoretically care for the moderation considerations which can be prone to emerge because of any associated shift in method.
Actually, it’s not doable to separate reality from fiction within the Elon Musk/Twitter stakes, as a result of we’ve no means of figuring out what Musk’s plans are for the app, exterior of the imprecise notes and pointers that he’s supplied alongside the way in which.
Although once more, this appears prone to be probably the most important level of rivalry, and does seem to align with Musk’s precise method.
By “free speech”, I merely imply that which matches the legislation.
I’m in opposition to censorship that goes far past the legislation.
If folks need much less free speech, they may ask authorities to move legal guidelines to that impact.
Due to this fact, going past the legislation is opposite to the desire of the folks.
— Elon Musk (@elonmusk) April 26, 2022
We’ll have to attend and see, however reducing 75% of workers, whereas concurrently opening up the ‘free speech’ gates? That would see issues get very messy, very quick within the Twitter-sphere.
On one other entrance, Musk has reassured ‘3-time bee sting survivor’ Dave Portnoy that he does certainly intend to sort out the platform’s bot points.
He additionally shared this random thought, apropos of nothing:
I can’t allow you to down, it doesn’t matter what it takes
— Elon Musk (@elonmusk) October 19, 2022
That’s not a part of an extended thread, or a reply that I’ve chosen to not embed. It was only a single tweet, a be aware to the world, perhaps.
So, what comes subsequent for Twitter?
Effectively, it looks like workers cuts are inevitable, and the impacts of that shall be not possible to foretell – although I don’t assume that Musk is aware of for positive what the precise variety of cuts he’s going to make shall be as but.
Possibly the suggestion of 75% cuts is a way to provide those that are already contemplating leaving the corporate somewhat push, as a way to keep away from future payouts – or perhaps Elon is certainly going to go department-by-department on the primary day, laying folks off as he goes.
And I feel that is it for the Musk/Twitter replace this week. Oh, additionally, Musk’s Twitter buy may very well be underneath Nationwide Safety evaluate, which may nonetheless derail the entire thing. Yeah, that too.
The chaos rolls on.
