Elon Musk Twitter Employees Layoff: Elon Musk, the new owner of the social media platform Twitter, has started a massive layoff as soon as he took over the reins of the company. He has started the work of reducing the company’s global workforce. Musk first fired CEO (Twitter CEO) Parag Agarwal, Chief Finance Officer (CFO) and some other top-level executives from the company. Now he is slowly ousting the employees by giving them compensation. Know how much compensation the employees who have been fired from Twitter are getting.
Employees are getting offers
Before the world’s richest man Elon Musk joined Twitter, 7,500 employees were working. But a large number of employees have been fired. So what is being offered to them in this? Musk has responded in one of his tweets. It is known that even when the deal was not completed, since then there was discussion that Musk would fire at least half the employees after taking ownership of his company.
getting so much compensation
After the layoffs started from the Twitter company, Musk said that in relation to reducing Twitter’s workforce, sadly we have no other option because the company is losing $ 4 million every day. Those who have been fired, have been given severance of 3 months, which is 50 percent more than the legal limit.
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
what is severance pay
Let us tell you that severance pay is called the amount that the company pays compensation to an employee on termination i.e. his removal before the end of the contract. That is, according to Musk himself, all the employees who have been removed from Twitter are being compensated for the next 3 months.
Most Indian employees fired
According to Twitter sources, Twitter India has fired most of its employees. The company had more than 200 employees working in India. Employees have been laid off from Sales & Marketing, Engineering and Communications in India.
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