Following the acquisition of Twitter at the tail end of the previous year, Elon Musk let go of thousands of employees in an effort to reduce costs. Musk also revealed that there are approximately 1,500 people working for Twitter, which is a significant decrease from the 8,500 employees that were there before he took over. Musk, on the other hand, stated that not all of the former employees had been fired and that some of them had resigned from their positions voluntarily.
His “hardcore” work culture consisted of employees working long hours, and those in upper and middle management positions revolted against it. Musk has recently spoken publicly about his time as CEO of Twitter, a prominent social media platform that is used by leaders all over the world. Musk took over as CEO of Twitter when the company had only 1,500 employees.
During an interview with Fox News, Musk reiterated his previous statement that Twitter was too large to be run as a non-profit organisation. He continues, “As it turns out, Twitter is able to function with a staff that is not particularly large. If you are not attempting to run a glorified activist organisation and you do not care that much about censorship, you will find that it is much easier to let go of a large number of people.”
When asked whether other CEOs have followed the advice to downsize the workforce, Musk suggested that he spends the majority of his time at work and does not interact with other CEOs. This is especially true during a time when technology companies are mass laying off workers and amid poor conditions in the macroeconomic environment. Once more, he blamed the lack of new product development under the previous administration for Twitter’s massive layoffs and explained them away by saying that the previous administration was to blame.
As Musk puts it, “If you plot the years against the product improvements made by Twitter, you’ll notice that the line is relatively flat throughout the years. A year was spent developing a button for editing content that is only occasionally effective. This predicament was absolutely hilarious. You are not employed in the automotive sector. The real mystery is how such a large number of people managed to find employment there.”
Product and engineering staff make up the majority of Twitter’s workforce at the moment. The company has terminated the employment of members of the human resources and communications departments.
Since he took over Twitter at the end of November, Musk has made it abundantly clear that he intends for it to become a community in which everyone has the same amount of influence. Musk reinstated a substantial enhancement to the premium Twitter Blue plan. Users who subscribe to Twitter’s Blue service will have their accounts automatically verified on the 20th of April, after which the legacy blue badges will be removed.
Musk has not been successful in raising the amount of money his company brings in despite his best efforts. In a different interview, he discussed the repercussions that stemmed from the takeover. When compared to the same time period in 2022, Twitter experienced a decrease in both its revenue and its adjusted earnings of approximately 40%, as stated in an article that was published by the Wall Street Journal in December of the previous year.