Twitter Layoffs Hundreds of Employees
Hundreds of Twitter employees have resigned. The new wave of departures adds to fears that Twitter is losing expertise in areas critical to its success. The company had an estimated 217 million daily active users at the end of last year. It has been profitable for only two years in the past two years. The layoffs have impacted Twitter's engineering ranks. There are only a few engineers left to maintain the platform, which could result in outages. The company is also losing expertise in how to keep user data safe.
A group of Democratic senators sent a letter to the Federal Trade Commission asking for an investigation of Twitter and its recent job cuts. The letter also relates to a recent FTC settlement for past privacy violations. The FTC has been investigating Twitter's practices, which could lead to a fine or a settlement. A Twitter spokesperson didn't immediately respond to a request for comment.
Twitter employees are split into three categories: engineering, business development, and marketing. The majority of the workforce is male, with women making up a small minority. The company has also recently cut its talent acquisition team. The remaining engineering staff are being asked to work long hours and in high-intensity environments to help build Twitter 2.0. Some employees say they've seen "legendary engineers" leave. The remaining staff are expected to work long hours and fix bugs, but they're not sure how they'll be compensated.
Twitter employees have been receiving e-mails about their potential job loss. They have until today to decide whether to stay or leave. If they choose to leave, they'll receive three months of severance pay. The company also announced that it would cut 15% of its trust and safety employees. These employees help users and advertisers keep the site safe. Twitter will also start charging for verified accounts.
Twitter's new CEO, Elon Musk, sent an ultimatum to the company's employees on Thursday. He asked them to choose by 5 p.m. ET. If they choose to leave, they would receive three months of severance pay, which will allow them to leave without affecting their paycheck. If they choose to stay, they will be expected to work long hours in an "extremely hardcore" environment. The company said it would take more engineers and developers to improve the platform and help prevent outages.
The company had about 2,900 employees remaining when the ultimatum was sent out. The company said it was preparing for a major shift in the company's culture. Employees said they feel a sense of guilt about staying at the company. The majority of Twitter's engineering staff was among those who were fired, but the company says it is hiring more engineers. The company will start to cut across the company to reduce costs.
Twitter's new CEO, Elon, has sent an email to all employees. He said the company was losing over $4 million a day. He also said he wanted more engineers and developers at the company. In addition to these cuts, he said he would offer stock options to "exceptional" performers.
