The new owner of Twitter is causing new transitions to the micro-blogging site every day. Elon Musk, the business Tycoon, is all set to monetise Twitter, and with the new blue tick $8 subscription he’s one step closer to generate revenue through it.
As soon as Musk sat in the CEO chair, the first thing he did was to lay off almost 3,700 employees. His vision for Twitter is surrounding monetisation since the Tesla owner is going above and beyond to make the site a major revenue source, and of course the brunt of it is going on the twitter staff as well. Just recently, Musk’s letter to the Twitter employees has further created a talk around the future of the site. Here’s what the letter said.
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Elon Musk Ends ‘Work From Home’ For Twitter Staff
When the covid pandemic first broke out, Twitter set a ‘work from home’ policy. Since the last two years, the employees have been working from home. Well, with the new owner, the ‘work from home’ policy is changing immediately. On Wednesday morning, November 10th, Musk sent an email to all Twitter employees announcing that they’re no longer permitted to work remotely. The employees have to be in the office for 40 hours a week. The email also warned the staff to be prepared of the current economic climate and how it might affect the site. “The road ahead is arduous and will require intense work to succeed,” Musk wrote in the email.
Things are getting tightened up for the ‘bird app’ employees as the commencement of Musk’s rule has also removed company’s “days of rest” which was implemented by Twitter cofounder Jack Dorsey, from the calender.
Read Musk’s First Email To Twitter Staff
Below is the full email which Elon Musk sent to the Twitter employees:
“Sorry that this is my first email to the whole company, but there is no way to sugarcoat the message.
Frankly, the economic picture ahead is dire, especially for a company like ours that is so dependent on advertising in a challenging economic climate. Moreover, 70% of our advertising is brand, rather than specific performance, which makes us doubly vulnerable!
That is why the priority over the past ten days has been to develop and launch Twitter Blue Verified subscriptions (huge props to the team!). Without significant subscription revenue, there is a good chance Twitter will not survive the upcoming economic downturn. We need roughly half of our revenue to be subscription.
Of course, we will still then be significantly reliant on advertising, so I am spending time with our sales & partnerships teams to ensure that Twitter continues to be appealing to advertisers. This is the Spaces discussion that Robin, Yoel and I hosted today:
Links to Twitter Spaces recording called “Elon Q&A: Advertising & the Future.
The road ahead is arduous and will require intense work to succeed. We are also changing Twitter policy such that remote work is no longer allowed, unless you have a specific [illegible].
Starting tomorrow (Thursday), everyone is required to be in the office for a minimum of 40 hours per week. Obviously, if you are physically unable to travel to an office or have a critical personal obligation, then your absence is understandable.
I look forward to working with you to take Twitter to a whole new level. The potential is truly incredible!
Thanks,
Elon”
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