The mass layoffs that Twitter employees have been preparing for since Elon Musk began his takeover may be on the horizon. According to Bloomberg, the site’s new owner and “Chief Twit” plans to lay off 3,700 employees from the company’s workforce, which would halve the workforce to cut costs. Musk and a team of advisors are reportedly still in the process of finalizing the terms of the layoffs, but one option they’re considering is to offer 60-day severance pay to those who are laid off. The executive could inform the affected employees as early as Friday.
If you can keep your job, you may have to get used to working in an office again. According to Bloomberg, Musk also plans to end Twitter’s “work-from-anywhere” policy and require employees to report to offices, bar some exceptions. The publication previously reported that Twitter staff had been concerned about the changes Musk might bring regarding that particular policy before he even took over. It’s no secret that the executive isn’t a fan of work-from-home arrangements and had previously given Tesla and SpaceX employees an ultimatum, demanding they stay in the office 40 hours or leave the company.
Before Musk began taking over the social network, it was reported that he would lay off 75 percent of the company’s employees. He reportedly disputed those numbers when he visited Twitter’s San Francisco headquarters, but it was pretty clear layoffs were still on the horizon. After the Twitter deal was sealed, Musk first fired former CEO Parag Agrawal, CFO Ned Segal and other top executives.
More director and vice presidential positions were sacked over the weekend, while some remaining senior Twitter employees were asked to create lists of employees who may be cut. Those layoff lists were reportedly ordered by each individual’s contribution to the Twitter Code, and Musk enlisted the help of Tesla directors and engineers to rank them.
Aside from ordering a mass layoff to save money, Musk is also making big changes to make money, like raising the price of Twitter Blue from $3 to $8 a month. According to Bloomberg, the new prices could go into effect as early as Monday next week. Subscription will also be a requirement for blue verification badges in the future, although users who are already verified have months to start paying before they lose their tick.
All products recommended by Engadget are selected by our editorial team independently from our parent company. Some of our stories contain affiliate links. If you buy something through one of these links, we may receive an affiliate commission. All prices are correct at time of publication.