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Twitter Layoffs 2022: What to Know About the Latest TWTR Job Cuts

The Elon-Buys-Twitter saga continues this week as rumors float that even more Twitter layoffs are coming for the volatile social media company. According to Bloomberg, on Friday, Elon Musk called in leaders in the Sales and Business department…

The Elon-Buys-Twitter saga continues this week as rumors float that even more Twitter layoffs are coming for the volatile social media company. According to Bloomberg, on Friday, Elon Musk called in leaders in the Sales and Business departments, asking them to fire additional employees.

This, of course, comes just days after Musk cut the majority of Twitter staff by demanding an immediate pivot to in-office work, leading to rampant resignations. It seems Musk’s rampage hasn’t quite reached its fever pitch.

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Musk isn’t quite finished with his firing spree, with reports that more layoffs could come as soon as Monday following a drastic Friday meeting. After demanding a more “hardcore” work environment, Musk has faced a virtual firestorm as large swathes of engineers and other technical employees opt for severance pay, resigning in droves.

Musk gave employees the option of staying on and working “long hours at high intensity” or accepting a three-month severance package, and many employees quickly jumped on the latter. It seems, however, it’s still not enough for the infamous Tesla (NASDAQ:TSLA) chief executive.

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While Twitter was delisted from the New York Stock Exchange upon Musk’s ownership, the company’s public blows haven’t gone unnoticed. A number of major brands have ceased ad spending on the platform in response to Musk’s drastic measures. This has fed rumors that the company may be on the path to bankruptcy, something even Musk himself has given credit to.

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More Twitter Layoffs Coming as France Head Quits

With rumors that Musk’s firing rampage may only be in its infancy despite more than half of its employees having left the company, a few resignations in particular have grabbed headlines.

This includes Twitter’s Head of French Operations, Damien Viel. He tweeted “It’s over” on Sunday, announcing his resignation on the very platform he helped run.

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C’est fini 🫡 Fierté, honneur et mission accomplie. Au revoir #twitterfrance 🇫🇷. Quelle aventure ! Quelle equipe ! Quelles rencontres ! Merci à tous pour ces 7 années incroyables et intenses💙. #workhardplayhard #OCaptainMyCaptain #LoveWhereYouWorked

— damien viel (@damienviel) November 20, 2022

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Viel later confirmed the report to Reuters while declining to offer details on the conditions of his resignation. Viel was the head of Twitter’s French segment for seven years prior to his departure.

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He was not alone, however. Robin Wheeler and Maggie Suniewick, the now-former Heads of Marketing and Sales, and Partnerships, respectively, reportedly lost their jobs Friday after refusing to layoff more employees at Musk’s behest. According to anonymous sources from Bloomberg, Wheeler in particular had decided to resign even earlier this month, but was temporarily convinced to stay.

Despite the turmoil, Musk himself has been rather active himself on the social media platform. He has been boasting about usage numbers, restoring former President Donald Trump’s Twitter account and generally poking fun at the situation via some very odd memes.

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Whether Musk achieves his loftiest Twitter dreams or plunges the platform into bankruptcy is anyone’s best guess at the moment.

On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. Shrey’s articles have featured in the likes of Morning Brew, Real Clear Markets, the Downline Podcast, and more.

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The post Twitter Layoffs 2022: What to Know About the Latest TWTR Job Cuts appeared first on InvestorPlace.

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