Insider reports that Twitter employees are leaving the company after Elon Musk announced plans to lay off 75% of the staff.
Throughout Elon Musk’s potential acquisition of Twitter, a significant number of employees have left the company for rivals such as Meta and Google. According to a report by Greg Larkin and Elizabeth Gafford of Punks and Pinstripes, the company discovered data on Linkedin indicating the number of employees who have left.
Twitter, which has been experiencing financial difficulties, is currently charging hundreds of thousands of dollars for explore page takeovers. Despite such sales, the company’s leaders have been pursuing an acquisition from Musk.
Approximately 530 employees left Twitter in the last quarter, which is a 60% increase from the previous quarter. Since January, approximately 1,100 employees have left the company, which has approximately 7,500 workers.
According to reports, Musk informed investors that he planned to lay off approximately 75% of the entire workforce, which has caused quite a stir in the media. In spite of this, Twitter employees have voluntarily left the company over the past six months. With the recent merger of Discovery and Warner Media, the majority of the workforce has been laid off, causing many to fear for their job security.
Many are also concerned with the manner in which Musk manages company standards and sets lofty goals for his teams, expecting them to burn the midnight oil.
The CEO of Punks and Pinstripes told Insider, “The uncertainty generated by the feud between Elon Musk and Twitter is driving a lot of Twitter’s top talent to other social media platforms. […] These individuals have options as to where they can go, and they are leaving.”
Musk’s total contract is worth $44 billion and is set to expire soon. If the deal does not close, a trial is scheduled for November.
