Elon Musk says he will find a new leader for Twitter – Elon Musk stated on Wednesday that he hoped to finish an organisational reform this week and anticipated reducing his time at Twitter while eventually finding a new CEO to lead the social media company.
Musk made the commentaries while appearing in a Delaware court to refute allegations that the $56 billion compensation package he received from Tesla Inc (TSLA.O) based on performance goals that were simple to meet and had the support of a compliant board of directors.
Elon Musk’s Email To Twitter Staff Asks Them To Answer a Single Question
Employees of Twitter Inc. are given the option of accepting a buyout or pledging to stay with the company. And put in long hours of “high intensity” labour during its change, according to an email from Elon Musk.
Employees must submit the online form by Thursday at 5 p.m., New York time, or accept three months of severance pay. Musk wrote in an email obtained by Bloomberg that “we will need to be pretty rigorous” to make Twitter successful.
A Twitter spokesperson did not directly answer an inquiry for comment. The message was first reported by The Washington Post.
The only question on the form Musk wanted employees to fill out was, “Would you like to stay at Twitter?”
The only choice before “Submit” was “Yes,” which raised many employee queries concerning the agreement’s substance. According to others with knowledge of the situation, several of them sought legal counsel on how to react.
According to Peter Romer-Friedman, who heads the civil rights and class movements practice at the law secure Gupta Wessler PLLC, “it seems like that’s what he is promising. If an employee needed accommodations for a disability or needed to go on medical leave, “you can’t fire them for that. And to me, it seems like that’s what he is promising.
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The majority of the remaining staff and those with the most clout at Twitter, which Musk referred to as a “software and servers firm” at its core, will be engineers moving forward, he predicted in the note. He stated that design and product management roles will “still be essential and report to me.”
About 3,700 employees will remain let go during the billionaire’s first week as business president. Many remaining staff members are upset about the cuts, which affected most of Twitter’s senior management. According to current and former employees. Musk’s changes have also resulted in a lack of internal communication and worries about product malfunctions and technical issues.
Since then, Musk has kept firing workers for criticising him, occasionally on Twitter. Musk stated during his testimony on Wednesday in Delaware that the social media platform has taken up most of his attention “for the past few weeks.” Still, he added that the “basic organisational restructure” would be over by the end of next week.
Since his $44 billion acquisition last month, Musk has cautioned that Twitter may go bankrupt if it doesn’t start producing more cash. He has ended the company’s work-from-home policy with a few exceptions and warned employees that they can expect to work 80-hour weeks and fewer office perks like free food.
According to Lisa Bloom, owner of the Bloom Firm in Calabasas, California, representing a group of Twitter employees who have been laid off since Musk took over, the reference to long hours may potentially violate labour laws.
Elon Musk gives Twitter employees an ultimatum: Stay or go by tomorrow
New owner Elon Musk has informed the remaining Twitter employees that they must decide by Thursday afternoon regarding their employment status.
Musk stated that Twitter would “need to be extremely hardcore” to thrive in an email addressed to staff with the subject line “A Fork in the Road.” He wrote that those who depart will get three months’ worth of severance compensation. Those who decide to stay may anticipate a lot of hard labour and long hours.
The Washington Post was the first to disclose that Musk’s ultimatum claimed that he valued engineers over designers, project managers, and other personnel in what he aspires to be “a software and servers firm.”
The argumentative post is the most recent indication of rising tensions within Twitter. A business wracked by instability and disarray since the billionaire’s $44 billion acquisition in October.
Top executives were promptly let go by Musk. Since then, he has fired some employees after they publicly criticised him. And laid off about 3,700 employees, or nearly half of the workforce. Key members of the content moderation, cybersecurity, and legal compliance divisions have resigned.
According to Musk, it has long been a challenge for Twitter to increase its profitability. And he claims that his reorganisation is part of that effort. He also claims that the business needs to stray away from advertising. And get most of its funding from alternative sources. Such as Twitter Blue, a paused service that Musk redesigned and debuted to much controversy.