Update: Musk claims Twitter losing $4M per day as widespread layoffs begin

Malaysia News News

Update: Musk claims Twitter losing $4M per day as widespread layoffs begin
Malaysia Latest News,Malaysia Headlines
  • 📰 KPIXtv
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 53%

New Twitter owner Elon Musk on Friday claimed the company was losing $4 million per day and had to reduce its workforce amid widespread layoffs.

"Regarding Twitter's reduction in force, unfortunately there is no choice when the company is losing over $4M/day," the tweet read.

The company had told employees by email that they would find out by 9 a.m. if they had been laid off. The email did not say how many of the roughly 7,500 employees would lose their jobs. The suit filed Thursday in federal court in San Francisco by attorney Shannon Liss-Riordan on behalf of Twitter employees in the company's offices in San Francisco and Cambridge, Massachusetts, alleges that Musk's plans to lay off thousands of employees is not allowed under the federal Worker Adjustment and Retraining Notification Act, as well as the state's WARN Act.

The suit says another Musk-owned company, the electric carmaker Tesla, engaged in similar violations earlier this year when he made mass layoffs there without advanced written notice.

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:

KPIXtv /  🏆 443. in US

Malaysia Latest News, Malaysia Headlines

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

‘Unfortunately necessary’: Mass layoffs begin at Twitter under new CEO Elon Musk‘Unfortunately necessary’: Mass layoffs begin at Twitter under new CEO Elon MuskIt had previously been reported that as many as 3,700 Twitter workers — half of its workforce — would be on the chopping block.
Read more »

Widespread Twitter layoffs begin a week after Musk takeoverWidespread Twitter layoffs begin a week after Musk takeoverEmployees are bracing for widespread layoffs at Twitter as new owner Elon Musk overhauls the social platform.
Read more »

Widespread Twitter Layoffs Begin a Week After Elon Musk's TakeoverWidespread Twitter Layoffs Begin a Week After Elon Musk's TakeoverTwitter began widespread layoffs Friday as new owner Elon Musk overhauls the social platform.
Read more »

Elon Musk appears to order Tesla, SpaceX stickers for new Gulfstream jetInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »

Elon Musk Calls Activist Pressure On Twitter Advertisers “An Attack On The First Amendment,” Says Layoffs Will Save $400M A Year – UpdateElon Musk Calls Activist Pressure On Twitter Advertisers “An Attack On The First Amendment,” Says Layoffs Will Save $400M A Year – UpdateUPDATED with new Elon Musk comments. On the same day major layoffs were hitting Twitter, the social media firm’s new owner, Elon Musk, told a crowd of affluent investors in New York that acti…
Read more »

Employees at Elon Musk's Twitter brace for layoffsEmployees at Elon Musk's Twitter brace for layoffsTwitter employees are bracing for widespread layoffs as Elon Musk overhauls the social platform. In a letter to employees obtained by multiple media outlets, the company said employees would learn by 9 a.m. Pacific time if they had been laid off.
Read more »



Render Time: 2025-02-27 15:41:01