Report that Earon Mask will carry out a company-wide layoff to ``fire half of the employees''



Reports have revealed that Elon Musk, who bought Twitter and immediately expelled the management team, ordered a company-wide layoff in October 2022.

Elon Musk Is Said to Have Ordered Job Cuts Across Twitter - The New York Times
https://www.nytimes.com/2022/10/29/technology/twitter-layoffs-musk-jobs.html

Musk has ordered managers to compile a list of employees to be cut, with layoffs to begin as early as October 29, according to four people familiar with the matter who informed The New York Times. He said. The exact size of the layoffs was not disclosed, but half of the company's 7,500 employees could be affected.

Ross Gerber, CEO of Gerber Kawasaki, an investment company that financed Mr. Mask's acquisition of Twitter, said, ``I was told by a representative of Mr. Mask's family office that he plans to lay off about 50% of people.'' Did.

Mr. Musk previously announced plans to fire 75% of Twitter's employees, but when hevisited Twitter headquarters, he said, 'I'm not going to fire 75%.'

Elon Musk plans to fire 75% of Twitter employees - GIGAZINE



Layoffs are taking place very quickly in October, presumably to avoid the November 1st 'stock grant' to employees. Stock grants, which are part of compensation, typically represent a significant portion of an employee's salary. Under the terms of the acquisition agreement, Musk is to pay cash in lieu of shares to employees to whom the stock is delivered, but he can avoid paying by laying off employees before the stock is delivered. I can do it.

Musk is also likely not to pay generous severance payments to former Twitter executives he has fired. It is common for executives who have been dismissed due to a corporate acquisition or merger to be paid an extra retirement allowance called a golden parachute . 100 million to 9 billion yen) was to be paid.

However, Mr. Musk has previously accused Agrawal and others of ``misleading him and Twitter investors about numerous fake accounts on social media platforms,'' and said the dismissal was ``justified.'' If positioned, it would likely be exempt from the terms of the acquisition agreement, two people said.

There are various reactions to Twitter in the future, when Mr. Mask says, `` I will not make it a hell picture of free participation .'' American television producer Shonda Rhimes said, 'I can't keep up with Elon's plan. Goodbye,' and indicated his intention to leave Twitter.



Also, according to a survey by the Network Contagion Research Institute, which monitors the spread of false information on SNS, the number of tweets containing the N word , which discriminates against black people, increased by about 500% immediately after Mr. Mask took control of Twitter, that is, 6 times. It is said that it is jumping up nearby.



In response, popular professional basketball player LeBron James tweeted, ``I don't know Elon Musk, and honestly, I don't care who owns Twitter. If the increase in hateful tweets) is true, I would like to say that I hope he and his subordinates take this very seriously.There are a lot of bastards who say hate speech is free speech. I will,” he said.



Even in the midst of this uproar, Mr. Musk tweeted , ``Freshly baked bread and pastries are one of the great joys of life,'' and added the hashtag ``#FreeSpeech.'' Finally, on this platform, we can say the truth that 'carbs are great'.'

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