Will a large number of employees escape as Earon Mask’s Twitter plans become clear?

Tesla CEO Elon Musk has financed cost and juice revenue cuts and new leadership to secure funding to support the $ 44 billion acquisition of Twitter earlier this month. I promised my partner.

Reports that Musk is currently considering dismissing staff as it controls the company, causing anxiety among Twitter’s 7,000 employees and rumors of a mass worker spill when a new boss moves in Further details have been revealed, including reports of fanning.

This is what we know: Mask’s Twitter transaction will not be final until shareholder and regulatory approvals are obtained, Reuters report Musk lined up the company’s new chief executive officer, but sources refused to identify the person. Musk has repeatedly pointed out that current Twitter CEO Parag Agrawal, who was appointed CEO of Twitter in November when co-founder Jack Dorsey resigned, is not confident.

Musk also told his trading partners that he would cut executive compensation to save money and find new ways to monetize the platform.

These new sources of revenue include: According to Yahoo FinanceAn approach that works on other platforms, such as the video sharing site TikTok, which pays for content to social media influential people. According to Reuters, Musk is also working on plans to create a way to monetize tweets that are viral or contain important information. He also suggested to lending partners the idea of ​​charging a fee when a third-party website quotes or embeds a tweet from a verified account.

Employee uprising? According to another tactic that Mask may adopt to reduce costs on Twitter. Bloomberg News The report is to enact headcount reductions when he steers. Musk reportedly does not make a decision to reduce headcount until he takes ownership of the company.

But that qualified news is already struggling in an unpleasant environment where Musk is ready to take over, but still responding to current executives who appear to be lame duck decision makers. Made more noise.

Agrawal sought to calm employee anger at a company-wide meeting on Friday. There, employees sought answers on how managers would deal with the expected mass escapes that Mask prompted. According to Reuters..

At a town hall meeting Reuters heard, executives said the company would monitor staff turnover daily, but it was too early to see how the deal with Musk would affect staff retention.

“I’m tired of hearing about shareholder value and fiduciary duty. Do you honestly think that many employees are very likely to lose their jobs after a deal is closed? A Twitter employee asked Agrawal a question he read aloud during the meeting.

Employees also financed Twitter’s business as Mask’s volatile behavior destabilized Twitter’s business and the company is preparing to tackle the advertising industry in a presentation in New York City next week, according to Reuters. He told executives that he was afraid that he could hurt him.

“Is there a short-term strategy for how to handle advertisers that draw investment?” Asked one employee.

https://www./u-s-world/2022/5/2/23053671/elon-musks-twitter-plans-layoffs-cost-cutting-employees-readying-a-mass-exodus-tiktok-influencers Will a large number of employees escape as Earon Mask’s Twitter plans become clear?

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