Twitter: the great purge of Elon Musk begins in the workforce of the social network

Elon Musk does not plan to hang around cleaning up Twitter. While he has already pushed the short-lived leader of the American company, Parag Agrawal, out, the boss of Tesla wants to launch a first round of layoffs to reduce the social network’s payroll. the washington post reveals that Twitter is preparing to part with 25% of its workforce, which represents nearly 2,000 employees out of the more than 7,000 that the company has.

It is Alex Spiro, a longtime lawyer for Elon Musk, who is in charge of managing this inaugural wave of layoffs. More could follow in the coming months as the multi-billionaire plans to lay off 75% of Twitter staff, according to information obtained by the washington post. The operation of the company would then be ensured by only 2000 employees. However, a source familiar with the matter quoted by the American daily assures that the layoffs would actually concern nearly 50% of the platform’s workforce.

Twitter was already considering reducing its payroll

If the extent of the layoffs desired by Elon Musk greatly worries the employees of the social network, the company was already thinking of parting with 25% of its payroll before the takeover offer from the multi-billionaire, in order to get closer to the profitability. In this context, Elon Musk’s proposal therefore arrived at the right time since the sum promised by the businessman was far superior to the stock market valuation of the company and avoided the leaders having to announce themselves the bad new.

By shaping the microblogging site as he sees fit, Elon Musk, who claims to want to make the platform a haven for American-style freedom of expression, wants to turn Twitter into a real cash machine. It aims to bring the social network’s revenues to $26.4 billion by 2028, compared to $5.1 billion in 2021. In this sense, it is targeting nearly 600 million daily active users in 2025. , then 931 million in six years. Among them, 69 million will be users of Twitter Blue by 2025, the paid version of the microblogging site, a figure that will increase to 159 million by 2028.

But before getting there, the whimsical businessman will have to heat up the credit card of the American company. The sacking of Twitter boss Parag Agrawal, its chief financial officer, Ned Segal, and director of political and legal affairs, Vijaya Gadde, will alone cost the social network $100 million, according to Bloomberg.

Leave a Comment