Musk tells Twitter employees that the company must ‘recover’

Musk tells Twitter employees that the company must ‘recover’

Elon Musk warned Twitter employees that his business needed to be “cured” and subjected to “employee and cost rationalization” as he addressed employees on the social media platform directly for the first time since launching his $ 44 billion takeover bid.

Talking to its 8,000-man workforce via video on a smartphone, Musk on thursday he set out a bold vision for the future of twitter if he manages to take the company into private ownership. The free talk also touched on issues including content moderation, telecommuting and aliens.

The billionaire, the executive director of Tesla, said that he wanted to Twitter build a user base of at least a billion people globally, says a person familiar with the situation. The company has 229 million daily active users who can be redeemed – registered users to whom the platform displays advertising.

That would mean making sure people aren’t “harassed” on Twitter, he said, while also adding a number of features that will mimic China’s WeChat platform, a “super application” where users can send messages, make payments, buy or book taxis at one time. place.

Paying attention to another Chinese-owned app, he said TikTok had successfully ensured that its content was not “boring” – and that Twitter should follow in its footsteps.

However, Musk also hinted that layoffs, cost reductions or restructuring could be expected, adding: “Currently, costs exceed revenues. That’s not a great situation. “

His answers at a one-hour meeting, during which employees ’questions were read to him by Twitter’s head of marketing Leslie Berland, suggest he is still forging plans on how to run the company.

But that also comes after Musk repeatedly criticized Twitter’s leadership, accusing executives of not providing enough information about fake accounts and breach of duty. This has led to speculation that he may be maneuvering to renegotiate at a lower price or leave.

Musk first made his bid for Twitter in April, promising to bring “freedom of speech” to what he called the “digital city square” and drop restrictions on content moderation. He doubled those suggestions on Thursday, adding that he believes “rather unheard of” tweets should be allowed on the platform.

Musk said that advertising will remain important for increasing revenue, but that he hopes that it will diversify into payments, subscriptions and paid verification of users. In an early presentation he shared with investors, he said he would seek to quadruple revenue to $ 24.6 billion by 2028, according to a source familiar with the document.

Morality on Twitter is low all the time processwith many employees unsure of job security whether the deal will be finalized, or, if it fails, whether the company’s share price could be affected.

Some fear Musk’s intense leadership style will clash with the more relaxed workplace culture on Twitter. He recently insisted that his Tesla employees show up at least briefly 40 hours per week in the office or find another employer – in stark contrast to Twitter’s promise during the coronavirus pandemic that employees can “work from home full time forever” if they so wish.

During Thursday’s meeting, Musk softened his stance a bit, saying that while he was biased towards personal work, Twitter employees producing “outstanding” jobs could work remotely.

In a confused answer to the question of whether he intends to become CEO, he said that he did not mind in any case, before he presented his vision of “expanding consciousness” in the world and thinking about whether aliens exist. “I did not see any real evidence of aliens. . . still, ”he added.

Additional reporting by James Fontanello-Khan

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