Twitter job cuts
Elon Musk
CEO of Tesla Motors
On the social networking site, Binance’s chief government and chairman, Changpeng Zhao, commented the comment that “a thinner staff would make more sense.” The cryptocurrency exchange has made an investment of $500 million in Twitter as part of Musk’s $44 billion takeover of the company. The takeover was finalized just the week before last and has been followed by a series of adjustments and potential overhauls of the business ever since. (twitter job cuts)
In the most recent reports, which were published in the Verge and on Bloomberg on the same day, Musk is going to eliminate around 3800 jobs, and employees at the San Francisco-based company who would be impacted by layoffs will be informed as soon as Friday.
On Thursday, before to the publication of the reports by Verge and Bloomberg, Zhao said that Twitter had been too slow in putting out new features while it was still under its previous ownership.
Zhao, a Twitter power use with 7.2 million follower, has voiced his opinion that the pace at which new features are introduced on the site is too sluggish, considering the company’s staff size of just 7,500.
Speaking at this year’s Web Summit in Lisbon, Portugal, Zhao said that the platform’s response time to problems like spam accounts, a pet peeve of Musk’s, has been too slow.
Changpeng Zhao
CEO of Binance
Given the size of the staff, “quite simple things haven’t been actually done very rapidly,” he said, citing features like an toolbar button that are now being tested by US Blue service members who subscribe to Twitter’s premium service. He also said, “So a smaller workforce would be better.”
While admitting he “did not know for sure” what Musk’s intentions are regarding layoffs, Zhao said he had faith that “he would do the correct way for the firm.”
The Covid flu outbreak, Zhao said, was a major factor in his decision to invest in Twitter despite never having seen Musk in person.
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