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Twitter is laying off about 50% of its employees worldwide

Twitter is laying off about 50% of its employees worldwide

To help ensure the safety of every Twitter employee, systems, and data, our offices will be temporarily closed, and access to all badges will be suspended.the Californian company said Thursday in an internal advisory email by Agence France-Presse (AFP).

The letter informs the staff of thisThey will be notified via email if their job is terminated Or not, without specifying the number of affected positions.

In the middle of the afternoon, Elon Musk confirmed that about 50% of the group’s salaries will be affected by the current layoffs, according to an internal document reviewed by AFP on Friday.

As announced earlier today, Twitter is downsizing to improve business health. These decisions are never easy, and it is with regret that we are writing to let you know that your Twitter post has been affected. Today is your last working day […]indicates one of these email messages.

Once he took power, he was a billionaire Dissolution of the board of directors Twitter, CEO and other executives.

Online feedback

Shortly after the internal layoffs were announced, Twitter employees took to the social network to announce their job cuts, sometimes using the hashtags #LoveWhereYouWork and #OneTeam (one team only).

Have you already started? Good day before layoffs, so was launched Thursday evening by Roman Chaudhry, who presents himself on LinkedIn as the Director of Artificial Learning Ethics for Twitter. Her posts attached a screenshot showing that she was denied access to her work email.

All my thoughts, my respect, my energy and my love Tweeters (the pseudonym of Twitter employees) around the world today. Together we have created the most amazing app on the planetFor his part, wrote Friday Damien Vail, general manager of Twitter France.

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Overnight from Thursday to Friday, five newly laid-off people filed a class-action lawsuit against the company on the grounds that they did not receive the 60-day notice period required by US law for mass layoffs (Warning Law), according to the text of the complaint consulted by Agence France-Presse.

heavy debts

To finance the $44 billion (Canadian $60 billion) takeover, the billionaire businessman was saddled with debts to a company whose financial health was already fragile. The company posted a large deficit in the first two quarters of the year.

Thus Elon Musk has contracted out loans amounting to 13 billion US dollars (17.5 billion Canadian dollars), which will have to be repaid by Twitter and not by the Tesla boss.

It also sold about US$15.5 billion (CAD$20.9 billion) of its shares in the electric car maker in two waves, in April and August, and backed $12.5 billion in loans (CAD$16.8 billion) for its Tesla Bonds.

ideas for profit

One of Musk’s main ideas for revenue generation is Subscription $8 per month (about CAD 11) allowing users to get their account certificate, see fewer ads and enjoy various benefits.

This announcement sparked a lot of criticism and caution, especially among people who already have an authenticated account.

On Friday, Elon Musk blamed Twitter’s low revenue A group of activists put pressure on advertisers when nothing changes with moderation in content and that [tout a été] to please the activists.

It is complete rubbish! [Ces activistes] They are trying to destroy freedom of expression in Americaadded bubble fifties.

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The entrepreneur must already face the anxiety of advertisers, who are questioning the dangers of moderating content.

Groups break up

Several groups have already decided to suspend their advertising expenditures on Twitter, including US agribusiness giant General Mills American automaker General Motors (GM) and its German competitor, Volkswagen.

After Twitter announced a revision of its brand safety guidelines, the Volkswagen Group has recommended its brands suspend their paid activities on the platform until further notice.The Wolfsburg group confirmed to AFP on Friday.