Mass Resignations at Twitter, Future Uncertain

Elon Musk, the business magnate and billionaire, bought Twitter last month for $44 billion and has been in the news ever since. Ever since his acquisition, he has already fired half of the staff and scrapped the work-from-home policy of the company.  

Even after this massive layoff that resulted in almost half of Twitter’s employees losing their jobs, Elon Musk hasn’t changed his eccentric ways. He recently announced an ultimatum for the employees to commit to “hardcore” work. 

Hundreds of employees at Twitter rejected Musk’s ultimatum to keep working for the business, which said to “Stay with the company”, “working for long hours at high intensity” or “quit with three months’ severance pay”.

More than expected number of employees chose the latter option and resigned. 

Musk, a week after his aquisition of Twitter, announced the new Twitter policy. His tweet said that, “New Twitter policy is freedom of speech but not freedom of reach. Negative/Hate tweets will be max deboosted and demonetized, so no ads or other revenue to Twitter. You won’t find the tweet unless you specifically seek it it out, which is no different from the rest of Internet.” 

This new policy is applicable only to individual tweets and not the whole account. 

The Indian subsidiary of the company filed its annual financial results which show that the revenue of Twitter Communications India Pvt. Ltd has increased by 82% in the fiscal year 2022. However, the company as a whole has slipped into major losses. 

Musk seems undisturbed by the mass resignations. In his words, “the best people are staying, so I’m not super worried.”  

There is speculation around whether or not Twitter will close down. When Elon Musk was questioned about this, he said that the platform has hit an “all-time high” in terms of usage and will continue to do so.