New York (Monitoring Desk) The richest man in the world, Elon Musk, has laid off 50% of his employees a week after acquiring the ownership of the microblogging website ‘Twitter’. According to news website ‘The Current’, Twitter’s layoffs began on Friday. Employees have said they started receiving emails on Friday, telling them “today is your last day at the company.”
Elon Musk defended his decision to lay off his employees in a tweet, saying, “Twitter’s revenue has dropped significantly. Activist groups are putting pressure on advertisers on Twitter, even though we haven’t made any changes to Twitter and have taken all possible measures to curb activist groups. They are trying to destroy free speech in America.”
According to the report, the total number of employees of Twitter is 7500. Therefore, with this decision of Elon Musk, more than 3700 employees will lose their jobs. Some of the laid-off employees have said they will receive at least two months’ salary as a result of their layoffs.
Elon Musk says that Twitter was losing four million dollars a day, due to which it has been decided to lay off employees. The employees will be paid three months salary which is more than the prescribed limit.