Elon Musk Said He Is Forced to Lay Off Workers Because Twitter Is Losing Over $4 Million a Day

Elon Musk smoking weed
Elon Musk smoking weed

Elon Musk was forced to slash Twitter’s headcount to half in his first comments on the mass layoffs after taking over the social platform.

He tweeted on Friday: “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.”

Musk added: “Everyone exited was offered 3 months of severance, which is 50% more than legally required.”

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Nonetheless, workers have told Business Insider in an interview that they have been offered payments of between one and three months, depending on the region’s legal requirements. 

Musk’s Twitter team sent a company-wide memo earlier this week to US-based informing them of a Friday email that would tell them whether they were being laid off or kept on. 

Some employees told Insider’s Kali Hays they lost access to work systems soon after receiving the warning email, while hundreds of workers have tweeted about losing their jobs. 

Five former employees, including an engineer who also draws satirical cartoons, filed a lawsuit on Thursday saying Twitter failed to give enough notice about the job cuts.