Elon Musk’s First Day as Twitter Owner is Marked by Chaos and a Possible Prank Involving Layoffs

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Last Updated on October 30, 2022 by Bitfinsider

On the first day that Elon Musk was in charge of Twitter, a person who walked out of the company’s headquarters in San Francisco and identified themselves as a data engineer there reported that they had just been laid off. Bitfinsider was unable to instantly verify the identity of that person or another individual who made a claim that was comparable to theirs.

One Twitter worker who was waiting for word regarding layoffs or projects told Bitfinsider that they were, for the most part, kept in the dark about the situation. This individual remarked that Musk was meeting with relatively low-ranking engineering managers, which was viewed as a positive gesture by some. Before the transaction was finalized, there were reports in the press that Musk intended to lay off as many as 75 percent of his workforce.

Twitter did not provide a response despite numerous requests for comment regarding employee layoffs.

On Thursday, Musk was ultimately able to take control of the corporation, putting an end to the protracted court battle. The billionaire CEO of Tesla and SpaceX first agreed to buy the firm for $44 billion, but shortly thereafter sought to back out of the deal. He complained that Twitter was not forthright enough about the issue of spam accounts on the platform. Twitter has refuted this information and has filed a lawsuit in an effort to convince Musk to finish the transaction.

Before the scheduled start of the trial earlier this month, Elon Musk gave his consent once more to finalize the transaction. The judge gave Musk till Friday at five o’clock p.m. to either finalize the arrangement or establish a new date for the trial.

According to David Faber of CNBC, some of the company’s top executives left their positions on Thursday, including Chief Executive Officer Parag Agrawal and Chief Financial Officer Ned Segal. Vijaya Gadde, who oversaw legal policy, trust, and safety at Twitter, was also let go from her position.

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