“Who on earth is paying $240 for Twitter”: Elon Musk Has Reportedly Threatened to Fire Twitter Employees If They Don’t Meet the Deadline, Plans to Introduce $20 Per Month Subscription Model For Twitter Users
Elon Musk has already acquired one of the most active social media platforms, Twitter last week. The takeover of the service happened after he completed the $44 billion acquisition deal that was uncertain for the past few months due to the tension between the tech mogul and Twitter management. Now, that he is the owner, he can do anything with the company, which is what the reports surfacing online is stating about the billionaire.
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According to the reports surfacing ever since he decided to take over the company, Musk is planning to cut down on Twitter’s workforce by 75 percent. Currently, the company has about 7,500 staff members and is planning for subscriptions for the paid verifications on the platform.
Elon Musk Planning To Reduce Twitter Workforce
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The 51-year-old Tesla CEO, Elon Musk ordered company-wide layoffs at the micro-blogging service on Saturday. According to reports, the cut-off could happen before November 1st as the employees get their stock grants, which “typically represent a significant portion” of their payment on that very day. If he discharges any employee from their work before this date, he may not have to pay them grants.
However, the layoffs were planned even before his bid as Twitter management planned to remove almost a quarter of the workforce, removing $800 million from the payroll. The former head of Twitter’s spam and health metrics told The Post that the newly appointed CEO plans are “unimaginable.”
Soon after the acquisition, he fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal, legal affairs and policy chief Vijaya Gadde and general counsel Sean Edgett on completion on Thursday.
However, the Tesla CEO addressed the reports in his tweet has claimed the reports as “false” on Monday.
Elon Musk to Introduce Paid Verification Plans on Twitter
According to recent reports, the tech mogul not only plans to cut off the workforce of his new acquisition, Twitter but he has given a warning to the employees to introduce paid verification on Twitter otherwise they’ll have to lose their job.
The new instruction involves the management changing Twitter Blue, the company’s optional feature, a $ 4.99-month subscription that unlocks additional features, to modify into a more expensive subscription which will also verify users as per The Verge.
The social media platform for now is planning to charge $19.99 for the new subscription service. Under the current plan, verified users would have 90 days to subscribe or they will lose their blue checkmark. As per reports, employees responsible for this project had been given a deadline of November 7th to launch the new feature otherwise they’ll have to leave their job.
The netizens are not siding with the tech mogul and shared their opinions on the same.
Check out the tweets below.
The whole point of the verification check is an easily identifiable credential that this person of significance is not a fake account. I can't understand the need for anyone deserving a verification check to have to pay for one.
— rewster (@Rewster53) October 31, 2022
That’s working for Elon 101. Set aggressive goals. Challenge people to meet them. Replace them if they aren’t up to the task.
— Neil (@grambo1980) October 31, 2022
If the guy wanted to lose 44 billion dollars that badly, he could have just given it to me.
— Jess 🇺🇦 (@MirrorMan_jls) October 31, 2022
https://twitter.com/TrustNobis/status/1586889757564760064?t=P4Q8fYc–loXT9dTvH_HZg&s=19
He had previously shared that his recent ownership on Twitter will “help humanity” specifying that he did not purchase the platform “to make more money.” As per the reports, he had told the investors that he will be generating a plan to double revenue in three years.
Source: Twitter
