Twitter employees who lost their jobs have been offered a three-month payoff, according to Elon Musk, who said the company is losing more than $4 million (£3.5 million) a day.
The social media company began widespread staff cuts around the world on Friday, with suggestions as many as half of its more than 7,500 staff could be axed. Its head of safety later said jobs cuts have affected about 15 per cent of the trust and safety department, as opposed to approximately 50 per cent of cuts company-wide.
New owner Musk is thought to want to drastically reduce costs at the company after completing his $44 billion (£39 billion) takeover of the platform last week, since tweeting “we need to pay the bills somehow”. He said on Friday evening (November 4): “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.
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