Defending his decision over layoff of Twitter employees, Tesla CEO Elon Musk said that the micro-blogging site was losing more than USD 4 million per day.
There is still no clarification on the severance payout for staff laid off in the country. These layoffs are a part of a global restructuring ordered by the social media platform's new owner Elon Musk.
On Friday morning, many Twitter users stated that they are unable to log into the website. A popup that reads "Something went wrong, but don't worry - try again" appears when the feed page first loads.
Elon Musk will start laying off Twitter employees on Friday. As per an unsigned internal memo seen by The Verge, Twitter employees were notified in the email that the layoffs were set to begin.
Twitter's top executives, including Parag Agrawal and Vijaya Gadde will be entitled to "golden parachute" payouts worth more than USD 122 million after being fired by the company's new owner, Elon Musk fired.
Beijing [China], May 30 (ANI): Due to a catastrophic slump in the Chinese economy followed by frequent layoffs by tech giants in the communist nation has raised concerns among the Chinese graduates, directing them towards government jobs for a stable and regular income.
Kabul [Afghanistan], April 14 (ANI): The takeover of Afghanistan by the Taliban caused not only political crisis in the country but also uncertainty in business and unemployment.
Hong Kong, March 16 (ANI): It is rumoured in the Chinese social media platform Weibo that tech giants Alibaba and Tencent employees are expecting around 30 per cent job cuts.
New York [US], January 7 (ANI): According to new research by Cornell University, companies that invested more in employee training before the pandemic were less likely to lay off their employees and reduce their workforces to cope with pandemic-related financial pressures.