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| Twitter to make job cuts after Elon Musk takeover | Twitter to make job cuts after Elon Musk takeover |
| (about 1 hour later) | |
| Twitter says it will inform its staff on Friday about whether they will be laid off following the firm's takeover by Elon Musk. | Twitter says it will inform its staff on Friday about whether they will be laid off following the firm's takeover by Elon Musk. |
| In an internal email, the social media company said the cuts are "an effort to place Twitter on a healthy path". | In an internal email, the social media company said the cuts are "an effort to place Twitter on a healthy path". |
| The firm added that its offices would be temporarily closed and badge access would be suspended. | The firm added that its offices would be temporarily closed and badge access would be suspended. |
| The multi-billionaire will be Twitter's chief executive after buying the firm last week in a $44bn (£39.3bn) deal. | The multi-billionaire will be Twitter's chief executive after buying the firm last week in a $44bn (£39.3bn) deal. |
| Elon Musk says $8 monthly fee for Twitter blue tick | Elon Musk says $8 monthly fee for Twitter blue tick |
| Will Donald Trump go back on to Twitter? | Will Donald Trump go back on to Twitter? |
| "We will go through the difficult process of reducing our global workforce on Friday," Twitter said in the email. | "We will go through the difficult process of reducing our global workforce on Friday," Twitter said in the email. |
| "We recognise this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company's success moving forward," it added. | "We recognise this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company's success moving forward," it added. |
| The company said office access would be immediately limited "to help ensure the safety of each employee as well as Twitter systems and customer data". | The company said office access would be immediately limited "to help ensure the safety of each employee as well as Twitter systems and customer data". |
| All staff are set to receive an email with the subject "Your Role at Twitter" by 09:00 Pacific time (16:00 GMT) on Friday. | All staff are set to receive an email with the subject "Your Role at Twitter" by 09:00 Pacific time (16:00 GMT) on Friday. |
| Workers who are not affected will be notified through their company email, according to Twitter. | Workers who are not affected will be notified through their company email, according to Twitter. |
| Meanwhile, those who are affected will be told of the "next steps" through their personal accounts. | |
| "Given the nature of our distributed workforce and our desire to inform impacted individuals as quickly as possible, communications for this process will take place via email," Twitter said. | "Given the nature of our distributed workforce and our desire to inform impacted individuals as quickly as possible, communications for this process will take place via email," Twitter said. |
| Reports in US media had previously suggested that Mr Musk was looking to cut 3,700 jobs, about half of Twitter's workforce. | Reports in US media had previously suggested that Mr Musk was looking to cut 3,700 jobs, about half of Twitter's workforce. |
| Bloomberg, citing unnamed sources, suggested some senior staff were asked to make lists of employees to be cut on their teams. | Bloomberg, citing unnamed sources, suggested some senior staff were asked to make lists of employees to be cut on their teams. |
| Twitter struggles to make a profit. One way of fixing that problem is making a dent in the wage bill. | |
| There is speculation that as many as half of Twitter's 8,000 jobs are on the chopping block. | |
| It is an incredibly tense time for employees. | |
| One Twitter worker I spoke to said he was anxiously waiting for an email to arrive tonight, confirming whether he still had a job. | |
| He said he would likely stay up to wait for the message. | |
| With all the talk of change at Twitter, it's worth remembering that thousands of employees are potentially going to lose their jobs. | |
| Elon Musk, however, has a reputation for being ruthless when it comes to staff. | |
| He walked into Twitter's headquarters carrying a sink last week. "Let that sink in", was the joke. | |
| That joke is looking increasingly tone-deaf to Twitter employees. | |
| Cryptocurrency platform Binance invested in Twitter as part of Mr Musk's takeover. Earlier, Changpeng Zhao, its chief executive, said that "a slimmer workforce would make more sense". | Cryptocurrency platform Binance invested in Twitter as part of Mr Musk's takeover. Earlier, Changpeng Zhao, its chief executive, said that "a slimmer workforce would make more sense". |
| Mr Zhao, who was speaking at the Web Summit in Lisbon, also criticised the platform for having been slow to roll out new features, given its level of staffing. | Mr Zhao, who was speaking at the Web Summit in Lisbon, also criticised the platform for having been slow to roll out new features, given its level of staffing. |
| The cost-cutting follows criticism of Twitter's efforts to raise money by proposing to charge $8 (£7) a month for a "verified" blue check-mark. | The cost-cutting follows criticism of Twitter's efforts to raise money by proposing to charge $8 (£7) a month for a "verified" blue check-mark. |
| In addition to the verification badge, those who pay could have their tweets promoted more widely and see fewer adverts. | In addition to the verification badge, those who pay could have their tweets promoted more widely and see fewer adverts. |
| Mr Musk has tweeted of his plan: "We need to pay the bills somehow." | Mr Musk has tweeted of his plan: "We need to pay the bills somehow." |
| Twitter has not made a profit in several years and its number of users has remained fairly static at about 300 million a month. | Twitter has not made a profit in several years and its number of users has remained fairly static at about 300 million a month. |
| Many experts suggest that Mr Musk, the world's richest man, overpaid for the company, given current economic conditions and the depressed values of many tech stocks. | Many experts suggest that Mr Musk, the world's richest man, overpaid for the company, given current economic conditions and the depressed values of many tech stocks. |
| But Brandon Borrman, Twitter's former head of global communications, in a BBC interview, questioned how Twitter could justify asking people to pay in order to remain on an "equal playing field" with other users. | But Brandon Borrman, Twitter's former head of global communications, in a BBC interview, questioned how Twitter could justify asking people to pay in order to remain on an "equal playing field" with other users. |
| Mr Musk has high expectations of employees | Mr Musk has high expectations of employees |
| It is not clear how the staff cuts will affect the platform's operations. US reports already speak of long hours spent by some staff to meet Mr Musk's demands in the aftermath of the takeover. | It is not clear how the staff cuts will affect the platform's operations. US reports already speak of long hours spent by some staff to meet Mr Musk's demands in the aftermath of the takeover. |
| In May, Mr Musk said his work ethic expectations would be "extreme", but less than he demanded of himself. | In May, Mr Musk said his work ethic expectations would be "extreme", but less than he demanded of himself. |
| Board axed | Board axed |
| As part of the takeover agreement, nine members of Twitter's board departed the company, leaving self-styled "Chief Twit" Mr Musk as the sole director. | As part of the takeover agreement, nine members of Twitter's board departed the company, leaving self-styled "Chief Twit" Mr Musk as the sole director. |
| The move was seen as cementing Mr Musk's control over the company. | The move was seen as cementing Mr Musk's control over the company. |
| Among those leaving were chairman Bret Taylor and chief executive Parag Agrawal. | Among those leaving were chairman Bret Taylor and chief executive Parag Agrawal. |
| Other senior figures have also posted about leaving, or are reported to have left, including chief financial officer Ned Segal. | Other senior figures have also posted about leaving, or are reported to have left, including chief financial officer Ned Segal. |
| As senior figures left, US media reported that a number of Mr Musk's allies joined Twitter. | As senior figures left, US media reported that a number of Mr Musk's allies joined Twitter. |
| Also, work ethic expectations would be extreme, but much less than I demand of myself |