Home World Elon Musk Says Twitter Loses $4 Million Every Day

Elon Musk Says Twitter Loses $4 Million Every Day

Elon Musk Says Twitter Loses $4 Million Every Day

Twitter loses 4 million dollars a day, which justifies staff layoffs, according to its new owner, billionaire Elon Musk, published this Friday.

Although he did not specify the total number of layoffs – the press has estimated them at more than 3,700, which represents more than half of his global workforce – Musk justified them in his last tweet by saying that “there is no other choice when the company is losing about four million a day.

As early as Friday morning, Musk had already said the company had seen a drastic drop in revenue, which he blamed on a stampede by advertisers due to “activist groups” allegedly pressuring companies to pull ads.

As for the dismissed employees, who today received an email with the termination of their contract in their mail -because the offices remained closed by order of the owner-, Musk assured this afternoon that all the dismissed have had an offer of three months of compensation , “which is 50% more than what is legally required”.

Despite this offer, some have already sued the company for unfair dismissal, because according to current labor laws in San Francisco (where Twitter’s headquarters are located), an employee must receive at least 60 days’ notice, which which has not been fulfilled in this case.

In an earlier tweet on Friday afternoon, Musk referred to the content moderation policies, which he said “remain absolutely unchanged,” adding: “contrary to what you may read in the press, we have actually seen in certain times of the week that dropped hate speech below our previous standards.”

Musk then linked to content from Twitter Trust and Safety chief Yoel Roth, who said his dedicated “moderation front line” team had suffered the least cuts.

Even so, and despite all these messages, companies such as General Motors or Volkswagen have suspended their advertising on Twitter until it becomes clearer where the company is heading in terms of content.

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