Elon Musk Mass Layoffs Plan

Elon Musk Mass Layoffs Plan is reducing Twitter’s personnel in an effort to turn a profit after paying $44 billion to acquire the firm. An email was sent out to all employees yesterday detailing the impending layoffs that would affect half of the company’s 3,700 workers beginning this coming Friday.

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As a result, Twitter is currently unavailable for the vast majority of its users, the price of Dogecoin has fallen by almost 7% in the last 24 hours, and Twitter is being sued for mass layoffs.

Speculations about Elon Musk’s future endeavours have caused Twitter to crash.

On Thursday, the corporation emailed all of its workers to inform them that on Friday, the company will be laying off staff around the world. By 9 AM PST, the company will have sent out an email to all employees with the subject line “Your Role at Twitter” (9:30 PM IST).

In the event that an employee’s employment is not negatively affected, they will be notified through Twitter’s main email. In the event that an employee’s job is affected, however, they will receive an email with instructions on what to do next. In light of the ongoing layoffs, Twitter will be operating as usual on Friday.

About Twitter users

In the meantime, Twitter users are alleging that the social media platform is “down” due to the layoffs. Others appear to disagree with Elon Musk and may bring lawsuits, while some staff are eager to be let go in exchange for severance.

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Shannon Liss-Riordan

Already, attorney Shannon Liss-Riordan has been hired to represent the plaintiff in a class action lawsuit. On Thursday, a lawsuit called Cornet v. Twitter, Inc. was submitted to the United States District Court for the Northern District of California. This complaint claims that Twitter broke the Worker Adjustment and Retraining Notification Act (WARN).

The California Labor Federation tweeted that 60 days prior to a mass layoff, firms must give notice to affected employees and state and local legislators under the WARN statute.

The Committee on Foreign Investment in the United States is now investigating whether or not it has jurisdiction over Elon Musk’s $44 billion acquisition of Twitter.

The Value of Dogecoin (DOGE) Keeps Falling

After Elon Musk took over as interim CEO of Twitter, the price of dogecoin jumped by almost 100% in a week. The value of DOGE has been falling for days.

As of this writing, the price of one dogecoin was $0.12, a decrease of almost 7% in the last twenty-four hours. Additionally, Dogecoin’s gains of over 100% have dwindled to 55%. Meanwhile, speculation that MASK is one of the tokens supported by Twitter has caused a 20% decline in the value of the coin.

Source: Google Trend

By Vil Joe

A writer and editor based out of San Francisco, Vil has worked for The Wirecutter, PCWorld, MaximumPC and TechHive. Her work has also appeared on InfoWorld, MacWorld, Details, Apartment Therapy and Broke-Ass Stuart. In her spare time, she takes too many pictures of her cats, watches too much CSI and obsesses over her bullet journal.

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