Elon Musk to find new leader for Twitter and the reason is…
2 min read . Updated: 17 Nov 2022, 05:57 AM IST
Premium- In about two weeks under Musk's leadership, Twitter has fired over 3,700 people, and a slew of high-ranking executives have resigned
Elon Musk has decided to find a new leader to oversee Twitter's operation. Musk made the remarks while testifying in a Delaware court to defend against claims that his $56 billion pay package at Tesla was based on easy to achieve performance targets and was approved by a compliant board of directors, according to a report by Reuters news agency.
Tesla investors have been increasingly concerned about the time that Musk is devoting to turning around the microblogging site. Musk intended to finish an organisational restructuring at Twitter this week.
"There's an initial burst of activity needed post-acquisition to reorganize the company. But then I expect to reduce my time at Twitter," Musk said in his testimony.
In about two weeks under Musk's leadership, Twitter has fired over 3,700 people, and a slew of high-ranking executives have resigned. And now the billionaire has reportedly given an ultimatum to Twitter employees to do "extremely hardcore" work or leave.
According to a report from The Washington Post, Musk sent a late-night email offering the remaining Twitter employees a choice: they can either resign and receive three months severance pay, or they can commit to a "hardcore" work environment. Twitter employees have until 5 p.m. Eastern time on Thursday to make up their minds.
"Going forward, to build a breakthrough Twitter 2.0 and succeed in an increasingly competitive world, we will need to be extremely hardcore," the letter reads. "This will mean working long hours at high intensity. Only exceptional performance will constitute a passing grade."
The form Musk wanted employees to complete contained a single question: “Would you like to stay at Twitter?"
“Yes" was the only option to click, before “Submit." That left workers with a lot of questions about the nature of the agreement.
Musk said in the note that Twitter will be more dominated by engineers going forward, making up the majority of remaining employees and having the greatest influence at the company, which he called a “software and servers company" at its heart. Design and product management functions will “still be very important and report to me," he said.
Musk has warned since his $44 billion acquisition last month that Twitter could face bankruptcy if it doesn’t start generating more cash. He has told employees they can expect to work 80-hour weeks and fewer office perks like free food, and ended the company’s work-from-home policy with a few exceptions.
Musk took control of Twitter in October 2022.
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