Elon Musk looks set to eliminate jobs en masse at Twitter, which augurs significant downsizing across Silicon Valley. TheRealLSL explains.
Figurines with computers and smartphones are seen in front of Twitter logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustrationsaid earlier this month that he would eliminate 75% of the social media company’s 7,500-person workforce once he took over.
he was starting with a quarter of the employee base. Writing up pink slips en masse will have a ripple effect across Silicon Valley.and others have said they would cut staff, but on a much smaller scale. Often companies use periods of slow growth as an opportunity to eliminate underperforming members of the workforce. Soon after, though, many try to upgrade in various positions, keeping the net impact relatively small.
If Twitter’s staff shrinks considerably and permanently, it is bound to give other technology bosses ideas. Even as valuations have fallen, salaries are at an all-time high, according to a SeptemberFollow @Breakingviews on TwitterNatWest shows bank investors were right to fret
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