Elon Musk completed the $44 billion acquisition of the micro-blogging site Twitter on Thursday evening and many speculations have emerged since then. In the latest development, journalist Eric Umansky took to his official Twitter handle and shared Musk’s strategy of firing people before having to give them year-end compensation. He shared a screenshot of a New York Times report which read, “The layoffs at Twitter would take place before a Nov. 1 date when employees were scheduled to receive stock grants as part of their compensation.” It further revealed how these grants represent a significant part of an employee’s pay.
“What a guy. @elonmusk is making sure to fire people at Twitter before part of their year-end compensation *kicks in on Tuesday.” read the caption. Have a look:
What a guy. @elonmusk is making sure to fire people at Twitter before part of their year-end compensation *kicks in on Tuesday.* https://t.co/sEclZozKV5 pic.twitter.com/inw3vF0kIL
— Eric Umansky (@ericuman) October 29, 2022
However, Musk has refuted these claims in the New York Times report. Musk responded to the tweet and said, “This is false.”
This is false
— Elon Musk (@elonmusk) October 30, 2022
In his first order of business, Musk sacked chief executive Parag Agrawal, as well as the company’s chief financial officer and its head of safety.
Musk, an advocate for “free speech” said earlier, in a message to Twitter advertisers, that the platform could not be turned into a “free-for-all hellscape” where anything could be said without consequence. Musk’s takeover, hence, has spurred speculation over what this entails.
“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk had written in his message to Twitter advertisers. “There is currently great danger that social media will splinter into far-right wing and far left-wing echo chambers that generate more hate and divide our society,” he added.
Musk has been at Twitter’s San Francisco headquarters this week, meeting with employees and having impromptu conversations with them in the cafe, according to the Insider report. On Wednesday, he entered the building carrying a large bathroom sink, a nod to it “sinking in” that he was Twitter’s new CEO.
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