About 1,750 of Twitter’s 3700 employees will probably be sent packing today as the social media site now owned by Elon Musk begins restructuring.
The layoffs were announced formally this morning, two days after Musk got rid of the entire Board of Directors and other top executives along with other changes in the company..
A Bloomberg report says the fired workers will be given two months severance pay.
SOme of the people who use Twitter say they will leave the site, while may companies that advertise on Twitter say they will suspend their advertising until they figure out what Twitter’s future looks like.
General Motors said it customarily pauses advertising on any platform that shows significant change in the way itt operates, and soon after that announcement at the Web Summit being held in Lisbon, Portugal. That announcement was soon followed by Advertising giant Interpublic Group recommending its clients do the same.
Interpublic, known as IPG, represents Coca Cola, American Express, Johnson and Johnson and other huge concerns.