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Twitter Latest: Class-Action Suit Filed As Musk Starts Job Loss

Twitter Inc. plans to begin employee discounts on Friday, the company said in an email to employees.

Twitter Inc. plans to begin employee discounts on Friday, the company said in an email to employees.

Billionaire Elon Musk plans to eliminate half of Twitter’s workforce, delivering on his plans to cut costs on the social media platform he bought for $44 billion last month, those in the know have said.

“In an effort to put Twitter on a healthy path, Friday we will go through the difficult process of reducing our global workforce,” Twitter management said in an email reviewed by Bloomberg. “We recognize that this will affect a number of individuals who have made valuable contributions to Twitter, but unfortunately this action is necessary to ensure the company’s future success.”

The company will notify affected employees at 9 a.m. San Francisco time Friday, according to the memo. Amid the layoffs, Twitter plans to temporarily close offices and suspend access to badges “to ensure the safety of every employee, as well as Twitter systems and customer data,” the memo said.

Volkswagen tells brands to pause spending (8:30am London)

Volkswagen, Europe’s largest automaker, has recommended all its brands to suspend their paid activities on Twitter until further notice, according to an emailed statement on Friday.

Several advertisers have put the brakes on placing ads on the platform until they get a clearer picture of Musk’s plans. Musk has said he wants to remove some of the content moderation, raising concerns that hate speech, misinformation and other potentially harmful material will flourish even more freely. General Mills Inc. said it is temporarily suspending advertising on Twitter, joining General Motors Co. when reconsidering their presence on the platform.

Twitter sued for mass layoffs (10:43 p.m. SF)

Twitter was sued over Musk’s plan to cut about 3,700 jobs on the social media platform, which employees say the company is doing without adequate notice in violation of federal and California law. A class-action lawsuit was filed Thursday in federal court of San Francisco.

Employees lose email access (9:13 p.m. SF)

The company began reducing employee access to email and Slack on Thursday evening. Some workers who were banned from their equipment suspected that their jobs had already been cut, although they had not yet received official confirmation.

Employment discounts start

All told, Musk wants to cut about 3,700 jobs at Twitter in San Francisco, those in the know said this week. The entrepreneur began hinting at his workforce priorities before closing the deal, saying he wanted to focus on the core product. “Software engineering, server operations and design will rule,” he tweeted in early October.

Security personnel at Twitter’s San Francisco headquarters have been preparing for layoffs, while an internal directory to look up colleagues was taken down Thursday afternoon, people in the know said. Workers have been girding themselves weeks before layoffs. In recent days, they rushed to connect through LinkedIn and other non-Twitter channels, giving each other advice on how to cope with losing their jobs, the people said. Ex-Twitter engineers also use social media to respond to former “Tweeps” seeking jobs elsewhere.

Musk has also struggled with advisors to come up with new ways to monetize the blogging platform, including charging fees for verifications, which can help differentiate real users from fake accounts. He’s also considering reviving Vine, a long-discontinued short video tool, a way to rival popular video-sharing apps like TikTok. Another product under consideration, the New York Times reported, is paid direct messages, which would allow its supporters to send private messages to prominent users.

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