TOBY SHAPSHAK: Elon Musk scares off advertisers
Twitter’s new owner is doing more than firing thousands of employees
Within a week of taking over Twitter, Elon Musk fired half its staff and implemented a contentious $8-a-month verification initiative to replace its Twitter Blue subscription. And those aren’t the most controversial changes he’s made.
Musk has intimated he will reduce staff to make the company more profitable, saying it is losing $4m a day. Staff were informed last week by a company-wide e-mail that an announcement would be made — via e-mail — about who had lost their jobs. “In an effort to place Twitter on a healthy path,” the e-mail read, “we will go through the difficult process of reducing our global workforce. We recognise that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success moving forward.”..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.