Twitter is rumored to be starting to lay off employees on Friday, just a week after Elon Musk. officially assumed controlWebsite. According to internal messages from the company, approximately half of its employees will lose their jobs. The New York Times. This is consistent with previous reports. This week: earlier.
After taking over Twitter, Musk made no apologies for making personnel changes. Parag Agrawal, then-CEO, and other members of his leadership team were dismissed as Musk’s first move. Over the past week, several other executives have left the company.
Twitter is now a privately-held entity and doesn’t have shareholders to answer to. But, it still has to improve its bottom line. It’s Hook!Musk owed the company approximately $1 billion per year in interest payments for the debt he accumulated when he purchased it. Twitter was up 33% in the three months ending June 30th A net loss was recorded$270 million. It needs to make more money or decrease costs quickly.
Some major advertisers SkittishAbout the new regime and Twitter’s efforts to diversify its revenue sources. Musk Plans to charge $8 per Month for Twitter BlueVerified users will have to pay to keep their blue checkmark. Musk says that subscribers will see fewer ads and be able to add longer videos to their tweets. According to reports, Twitter Blue could go up from $5 to $7 per month by Monday. The company is also working on a plan. offer paid video postsIt may also use this information to monetize adult material.
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