Twitter owner Elon Musk has threatened the advertisers who are backing out after the mass layoffs by the company. Not only this, but Musk has also defended the mass layoffs by stating that twitter was losing more than USD 4 million per day that was impacting the employees who were given severance packages.
Tesla CEO has blamed activists group who are pressurising the advertisers to back out from twitter which is resulting in the descending revenue of the microblogging site. While slamming the activists in a series of tweets, he wrote, “Twitter had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists. Extremely messed up! They’re trying to destroy free speech in America. Thank you. A thermonuclear name & shame is exactly what will happen if this continues.”
Not only this, but Musk has also defended the mass layoffs by stating that twitter was losing more than USD 4 million per day that was impacting the employees who were given severance packages. “Regarding Twitter’s reduction in force, unfortunately, there is no choice when the company is losing over USD 4M/day. Everyone exited was offered 3 months of severance, which is 50% more than legally required,” he further tweeted.
Twitter employees were informed via e-mail about the commencement of the layoffs and nearly 50 % of the employees have been sacked already. Musk’s twitter purchase deal was completed last week only and on the very first day he fired some of the company’s top officials including chief executive Parag Agrawal.