Layoffs necessary when Twitter loses $4 million daily: Elon Musk.
- Twitter’s new owner, Elon Musk, said the massive layoffs were necessary since the firm was losing millions of dollars daily.
- He clarified that all job losers received three months of severance compensation, “which is 50% more than legally required,” to lessen the pain.
- Twitter’s reduction in force is unavoidable when the firm loses $4M/day. Musk tweeted that everyone who left received three months of severance, 50% more than legally necessary.