Ouch!
If your work there you better dust off ur resume….
Twitter ain’t making money…..
The plan for anyone running the company going forward is to allow more of the ‘crazies’ type comments on tn the system since they tend to post more….
The investors feel the money is NOT in trying stick with the ‘truth or factual’ comments….
Even if Musk’s Twitter deal falls through — and there’s little indication now that it will — big cuts are expected: Twitter’s current management planned to pare the company’s payroll by about $800 million by the end of next year, a number that would mean the departure of nearly a quarter of the workforce, according to corporate documents and interviews with people familiar with the company’s deliberations. The company also planned to make major cuts to its infrastructure, including data centers that keep the site functioning for more than 200 million users that log on each day….
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In internal Slack groups, Twitter employees reacted to the news with anger and resignation, supporting each other and making jokes about the turmoil of the past few months, according to people familiar with the conversations.
Twitter and Musk are expected to close the purchase by next Friday. Planning for the closing is moving forward in apparent good faith after months of legal battles, say people familiar with the negotiations who spoke on the condition of anonymity to discuss internal deliberations. If the deal closes, Musk would immediately become Twitter’s new owner….
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Recently Andrea Walne, a general partner at Manhattan Venture Partners, a firm that has invested in the deal, told Business Insiderthat she thinks Twitter is worth only $10 billion to $12 billion and that other partners were trying to get out. Musk himself said that he and his investors were “obviously overpaying” for the site during Tesla’s earnings call on Wednesday….
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Musk has suggested he’ll loosen content moderation standards and favors restoring former president Donald Trump’s account (on Tuesday he posted a meme of himself, Kanye West and Trump each holding a sword for the social media company he owns or is in the process of purchasing)…..