The tech industry has been facing a huge backlash due to the overestimation of the post-pandemic scenario. Many companies have been reducing their headcount due to huge losses. Twitter has been no exception to the widespread phenomenon currently. Elon Musk started the layoffs back in November 2022 after his much-awaited and stretched acquisition of the company. In the first layoff, he sacked 3,700 employees due to heavy losses after advertisers pulled out their advertisements.
The layoffs saga did not halt at that. Later, in the same month, he fired around 4,400 contractual workers at the platform. But, after the layoffs, he started firing veteran engineers for merely criticizing his new policies publicly. There came a point when the employees themselves staged a walkout from the company. They did so due to Musk’s ultimatum of going to a “hardcore” working environment with adequate reimbursement. Now, there will be more layoffs leaving the company with only a few thousand employees.
Related: Elon Musk Twitter Takeover: Employees Are Suing The Platform For ‘Mass Layoffs’
Elon Musk Reveals The Real Number Of Employees At Twitter After A Speculated Report
The layoffs and radical actions saga continue at Twitter! Elon Musk has been bringing forth changes since he acquired the microblogging site in October 2022. Even before becoming the new CEO, when he was the biggest stockholder in the company, he has been suggesting changes. But, the implementations began in the first week of November 2022.
He kicked off the process by reducing headcounts due to heavy losses. Then, he introduced a new monthly subscription plan to increase revenue and for smooth account verification. But, it was disastrous calling for a revamped reintroduction. As per Insider, the billionaire is set to sack 50 employees.
Elon Musk had to let go of many employees due to offices shutting down overseas. This is due to non-payment of rent and a reduction in operations. Along with policy changes, he also went for many logistical changes at the company transforming offices into hotel spaces. He has reduced the janitorial facilities at many branches. So, people are puzzled about what is the current headcount at Twitter. On January 21st, 2023, a Twitter account updated that as per CNBC, Twitter has only 1,300 employees from 7,500 employees in November 2022. Then, the CEO himself gave the statistics of the currently working employees at the company.
The note is incorrect. There are ~2300 active, working employees at Twitter.
There are still hundreds of employees working on trust & safety, along with several thousand contractors.
Less than 10 people from my other companies are working at Twitter.
— Elon Musk (@elonmusk) January 21, 2023
He wrote, “The note is incorrect. There are ~2300 active, working employees at Twitter. There are still hundreds of employees working on trust & safety, along with several thousand contractors. Less than 10 people from my other companies are working at Twitter”.
In Case You Missed: Is Elon Musk And Tesla In Trouble With A New NHTSA Probe?
The CEO Appeared In The Court At The Federal Trial
The lawsuits and trials continue for Elon Musk. After the Twitter lawsuit compelling him to complete the deal, Elon is yet again inundated with lawsuits. Former Twitter employees have also filed many class-action lawsuits against him and the company. They believe that the period that he announced the layoffs were not sufficient. The female workers have also filed lawsuits for facing discrimination during the layoffs. On top of that, the 2018 Tesla tweets jury trial began in San Francisco.
The Tesla owner tweeted in 2018 that Tesla is ready to go private leading to an exponential increase in stock prices. This caused false inflation in the prices of Tesla stocks. However, the stockholders lost a heavy amount after investing money. The Securities and Exchange Commission probed into the matter and deemed that he made false claims and they penalized both Tesla and Elon Musk. On January 20th, 2023, he appeared in front of the San Francisco court to testify.
He said, “There have been many cases where I thought that if I were to tweet something, the stock price would go down. For example, at one point I tweeted that I thought that, in my opinion, the stock price was too high…and it went higher, which was, which is, you know, counterintuitive”.
You May Also Like To Read: Why Was Elon Musk Called “Narcissistic” By Prospective Jurors During The Trial?
