New York. Elon Musk’s big statement has come on Twitter’s decision to lay off 3700 people. Elon Musk has alleged that activists constantly pressurize advertisers. Due to this there has been a big drop in the revenue of Twitter. He said that no change was made in terms of content. We also did everything possible to please the activists. Musk said that everything is messed up. These people want to end free speech in America. In the past, there has been an allegation on Twitter that preference is given to activists of a particular mindset on this microblogging site. Now Elon Musk has confirmed it.
Twitter has had a massive drop in revenue, due to activist groups pressing 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.
— Elon Musk (@elonmusk) November 4, 2022
After this, Musk also told how much Twitter’s revenue had fallen and how much the company was losing. Elon Musk told that he was left with no option but to lay off. Twitter was losing $4 million every day. He told through tweet that 3 months’ money will be given to the employees who have been laid off. This is 50 per cent more than the provision of the law.
Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.
Everyone exited was offered 3 months of severance, which is 50% more than legally required.
— Elon Musk (@elonmusk) November 4, 2022
Let us tell you that on October 27, Elon Musk bought Twitter for $ 44 billion. Musk himself has invested $ 32 billion in this deal. After buying Twitter, Musk made several important announcements. Earlier he had said that for every Bluetick account, 8 US dollars will have to be paid every month. Apart from this, he talked about getting rid of fake accounts and making Twitter a platform for free speech. Musk then informed 3700 of Twitter’s 7500 employees that they would be laid off. Twitter started layoffs from Friday i.e. yesterday. Most of the workers in India have been laid off.