Elon Musk Says Twitter Layoffs Were Due To Company Losing $4 Million Per Day

Elon Musk says he had no choice but to fire half of Twitter's work force, claiming the app was losing $4 million per day.

Elon says the folks who were laid off were offered 3 months of severance pay, which he says is"50% more than legally required."in the cuts, with roughly 3,700 people being let go from the company.

Elon fired off a chilling memo to Twitter's workforce Thursday, informing them layoffs were coming ... and employees fired back with a preemptive lawsuit.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

TMZ /  🏆 379. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

People banned from Twitter won't have accounts restored for weeks, Elon Musk saysThat would mean people banned from the site for violating Twitter's rules for harassment, violence, or election and COVID-related misinformation will not be able to return before next Tuesday's U.S. midterm elections.
Read more »

Twitter users and advertisers waiting for changes after Elon Musk takeover - KCBS Radio: On-DemandThe future remains cloudy for Twitter as executives continue to exit the company following Elon Musk's purchase of the social media platform. KCBS Radio's Mike DeWald reports, more than 40 civil rights groups have urged advertisers to leave as well..... amid concerns over Twitter's content moderation standards.
Read more »

Twitter Owner Elon Musk Met With Civil Rights Leaders Tuesday — Here's What HappenedTwitter owner Elon Musk was pressed by civil rights leaders to keep banned users off the site and maintain election integrity tools Afterward, Musk tweeted that banned users, including former President Trump, won't be able to return for a few more weeks
Read more »

Kanye West returns to Twitter amid Elon Musk takeover with Kyrie Irving picAlmost one month after being locked out of his Twitter account, the rapper posted a photo of NBA star Irving who, like him, is caught in an antisemitism storm.
Read more »

Elon Musk to Fire About 3,700 Twitter Employees on Friday: ReportThe billionaire previously denied reports he planned to fire 75% of workers. Now it's just 50%.
Read more »

Elon Musk Teases Timeline Of When Banned Users May Be Restored To TwitterDon't expect them to return before next week's midterm elections.
Read more »