DCR Technology: Musk’s inner circle worked through weekend to cement Twitter layoff plans after acquiring Twitter.☕☕☕

Ayyyeee… What’s Goodie Everyone. So I got some tea and it involves Elon Musk, his acquisition of Twitter and his plans to layoff staff.

Elon Musk who owns a corporation called Tesla bought Twitter for $44 billion last week after several strenuous months of negotiations and legal wrangling. Musk first made a bid for the company in the spring, then tried to back out months later because Twitter sued to force him to complete the deal, and eventually the entrepreneur acquiesced and offered to buy the company for his original offer price.

Members of billionaire Elon Musk’s inner circle huddled with Twitter’s remaining senior executives throughout this past weekend, conducting detailed discussions regarding the site’s approach to content moderation, as well as plans to lay off 25 percent of the workforce to start.
Alex Spiro, who has represented Musk for several years, led those conversations. Spiro is taking an active role in managing several teams at Twitter, including legal, government relations, policy and marketing, according to four people familiar with the discussions who spoke on the condition of anonymity to describe them, as well as tweets from some of the people involved.

Musk along with others was deciding on what is expected to be a first round of layoffs, which will target roughly a quarter of the staff totaling more than 7,000, according to one of the people. Layoffs will touch almost all departments, and are expected to specifically impact sales, product, engineering, legal, and trust and safety in the coming days, the person said. After engineers, some of Twitter’s highest paid employees work in sales, where several earn more than $300,000, according to documents viewed by The Washington Post and DCR.

Less than three days into Musk’s ownership, Twitter employees remained in the dark about any new plans for the company as of Sunday evening, according to numerous employees contacted by The Washington Post, who spoke on the condition of anonymity to protect their jobs. The company has yet to release a formal announcement of the acquisition. The communications department has gone silent. Rumors have swirled about layoffs, with some notices going out quietly.

Layoffs are expected to begin ahead of November. 1, when Twitter employees are slated to receive additional compensation related to stock grants. On Sunday Musk tweeted that reporting about impending layoffs at Twitter next week was “false.”

Another person who familiar with the deal who spoke on the condition of anonymity to DCR and The Washington Post; to discuss sensitive matters last week said the total number of layoffs is likely to be closer to 50 percent. Already, Musk has fired four senior executives, sent Tesla engineers to evaluate Twitter’s software code, and has tweeted that he plans to form a content moderation council of experts.

Credit: The Washington Post.

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