The world’s richest person Elon Musk held an all-hands meeting with staff at Twitter’s San Francisco headquarters on Thursday to talk about various issues related to working.
He took over the social media giant about two weeks ago. Since taking control of Twitter in a $44 billion deal, the world’s richest man has dissolved top leadership – firing CEO Parag Agrawal and other top executives – laid off about 3,700 staff, and asked the remaining workers to return to office full-time. Musk overturned Twitter’s permanent work-from-home policy that was introduced about two years ago during the Covid-19 pandemic.
Before the meeting on Thursday, Musk sent a company-wide email warning staff of tough times ahead and asked them to work 40 hours in the office. Musk also told employees to brace for 80-hour weeks. According to Bloomberg, he also told staff to expect fewer perks like free food.
During the meeting, Musk reportedly said, "A small number of exceptional people who are highly motivated can do better than a smaller group of high achievers with moderate motivations.”
He also warned employees that the social media company may lose billions of dollars next year. He also said that the company was losing more than $4 million a day because advertisers started fleeing once he took over Twitter.
The acquisition of Twitter by Musk has sparked concerns that he could face pressure from countries trying to control online speech. Recently, US President Joe Biden said that Musk's "cooperation and technical relationships with other countries is worthy of being looked at."
Elon Musk’s $44 billion Twitter deal was finalized two weeks ago. Consequently, Musk introduced various changes on the social media platform. Twitter also asked its users to pay $8 a month for blue tick. The social media platform also banned a few verified accounts with millions of followers.
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