Musk’s Massive Layoffs: Twitter Founder Issues Apology: “I Own The Responsibility”
“I am aware that many are upset with me. I built the company too quickly, which is my fault for why everyone is in this predicament. I’m sorry about that, Dorsey wrote in a tweet.
Musk, whose $44 billion acquisition of Twitter was completed late last month, has defended his choice to fire up to half of Twitter’s workforce, or around 3,700 workers. When the layoffs started on Friday, he tweeted that he had no option because Twitter was losing $4 million daily.
According to Dorsey, who left his role as CEO in November of last year, Twitter employees in both the past and present are “resilient,” and they will “always find a way” no matter the situation.
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“I admire and appreciate everyone who has ever worked on Twitter. I don’t anticipate that to be reciprocal at this time—or ever—and I understand,” Dorsey wrote in a subsequent tweet.
Musk has looked for ways to boost sales in order to reduce the company’s massive debt. He declared that the site would start charging accounts an $8 monthly charge in order to get the blue checkmark of Twitter verification.
He had planned to charge $20 a month, but after facing internet criticism, he reduced the price to $8. However, the money that Twitter anticipates getting in return for the fee won’t come close to paying off its debt.