Features Crypto News by Thebittimes.Com

Elon Musk’s $44 billion worth of Twitter takeover has been the talk of the town. The transfer of ownership has been rather chaotic as Musk was seen implementing an array of new changes to the social media platform. Alongside this, he reportedly revealed that he intends to slash jobs at the platform by half. Musk, certainly, invited legal trouble with this one. As per recent reports, a class action lawsuit was filed yesterday in the San Francisco federal court. It was recently brought to light that Musk wanted to take down about 3,700 jobs at Twitter. This is reportedly half of the social media platform’s workforce. While these employees were expected to be informed about the same today, the lawsuit could switch things up. According to Musk’s alleged plan, the employees that would lose their jobs would be given 60 days of severance pay. The latest lawsuit noted how Twitter was cutting down its workforce without providing enough notice. This was further consi...

The world’s richest man, Elon Musk, and his recent Twitter acquisition was appearing to be chaotic by the day. While the community expected a smooth transition of ownership, Musk has certainly been stirring up quite the buzz. Layoffs at the social media giant have been a persistent rumor that has gained attention. But according to recent reports, this rumor might actually be true, which would be bad news for Twitter staff. JUST IN: Elon Musk plans to eliminate half of Twitter's jobs to cut costs, Bloomberg reports. — Watcher.Guru (@WatcherGuru) November 3, 2022 Twitter employees have been living in uncertainty ever since Musk’s $44 billion acquisition came through. A recent report pointed out that Musk, in a meeting with advisors planned to lay off about 3,800 employees from the firm. It should be noted that David Sacks, a former PayPal executive was also present in this call. Bloomberg, on the other hand, revealed that about 3,700 employees would be sacke...

Elon Musk had some company changes planned prior to the $44 billion Twitter acquisition deal. One of his first steps included the firing of some of the top executives. Musk reportedly closed the deal for his $44 billion Twitter purchase on October 27, 2022, a day before the deadline. While some were overjoyed by the news, the majority of the executives were not delighted with Musk’s takeover. This also included Twitter’s upper management. A recent report has now surfaced from the WSJ stating that Elon Musk has now dissolved the Twitter board. The board of nine members has now been ousted, leaving Elon Musk as the sole director of Twitter . JUST IN: Elon Musk dissolves the Twitter Board, consisting of nine members, and now serves as the sole director. — Watcher.Guru (@WatcherGuru) October 31, 2022 Nine-member board is no longer a part of Twitter after the deal A securities filing on Monday by Twitter revealed that the nine-member Twitter board i...