Twitter Temporarily Shuts Office, Prepares To Fire 50 Pct Of Employees

Twitter Temporarily Shuts Office, Prepares To Fire 50 Pct Of Employees

Twitter Temporarily Shuts Office, Prepares To Fire 50 Pct Of Employees
Twitter Temporarily Shuts Office, Prepares To Fire 50 Pct Of Employees
Retail Bum

Retail Bum

Retail Bum

Retail Bum

Twitter’s offices will remain shut Friday, with the company planning to let go of employees later today.

“If you are in an office or on your way to an office, please return home,” Twitter said in an email to employees on Thursday.

The suspension of access to the company’s office is aimed at ensuring the safety of each employee as well as the company’s systems and customer data, Twitter said.

The layoffs come a week after Elon Musk completed his acquisition of the social media company and fired CEO Parag Agrawal, finance chief Ned Segal, and Twitter’s head of legal, policy, trust and safety, Vijaya Gadde.

“In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” the company told Reuters.

While it remains unclear as to the divisions that will be impacted, Musk is looking to fire 3,700 employees, representing nearly 50% of its workforce, in an effort to reduce costs, impose a stronger work ethic and improve the company’s financial standing.

Musk has reportedly asked Twitter’s leadership to find $1 billion in annual cost savings, internal Slack messages indicate.

The layoffs come a day after a class action lawsuit was filed against the company, which argued that the company violated federal and California law by not providing the required 60-day advance notice that is needed before conducting mass layoffs.

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