The new owner of Twitter, Elon Musk, informed staff through an email that they are expected to work long hours at high intensity or else leave the company.
According to reports, Musk stressed in the email that workers are to agree to the pledge if they want to stay with the company. Those who do not agree to the policy by Thursday will be given three months’ severance pay.
“This will mean working long hours at high intensity,” Musk wrote. “Only exceptional performance will constitute a passing grade.”
He emphasized that Twitter “will need to be extremely hardcore” in order to succeed.
Musk requested that his employees click on a link by 5 p.m. EST on Thursday if they wanted to be “part of the new Twitter” and thanked them for their role in making Twitter successful regardless of their final decision.
Elon Musk announced laying off of half of Twitter staff
Upon purchase of the prominent social media company at an exorbitant forty-four billion dollar (£38.7 billion) deal, Musk, currently the world’s richest man, announced half of Twitter’s staff would be let go with the prime purpose of reducing expenses.
Musk said he had “no choice” over the cuts, as the company was losing four million dollars (£3.51 million) a day, blaming “activist groups pressuring advertisers” for a “massive drop in revenue.”
Shortly after taking over Twitter, several Twitter executives stepped down, and Musk reportedly also ousted several executive figures, including Agrawal, the CEO; Ned Segal, the chief financial officer; and Vijaya Gadde, the head of legal, policy, and trust. Gadde was also behind Donald Trump’s suspension last year.
In the same regard, last week, Musk also banned Twitter employees from working remotely, saying they need to spend a minimum of forty hours a week in the office unless they receive special permission from Musk himself.
During the COVID-19 pandemic, Twitter fostered a remote work culture, allowing many employees to work from home as well as implementing regular additional rest days for employees, which Musk has now also banned. He says Twitter’s turnaround will require “intense work.”
Twitter facing difficulties due to debts
According to tech investors and, in particular, Sarah Kunst, the real reason Twitter is facing difficulties is due to Musk’s takeover, which has saddled the company with debt. His behavior since the takeover has also led certain advertisers to putting a hold on their spending.
Kunst further said, “He’s now trying to inflict that pain and uncertainty on the employees.” She added that there was doubt over how enforceable Musk’s email about hours to staff really was.
“Can you just send an email to staff who already work for you and just unilaterally change their working contract?” she pondered. “That remains to be seen.”
Elon Musk’s statement on Tuesday, November 1st that Twitter will charge an eight dollar monthly fee to Twitter users who want a blue tick by their name indicating a verified account is also questionable.