Elon Musk on why Twitter had to fire most of its staff

Days after sacking senior leadership from Twitter, Elon Musk has fired almost 50% of the Twitter workforce. According to multiple reports, staff across various teams and countries has been asked to leave. In India also, most of the Twitter staff has been laid off.
Musk in a tweet explained his rationale behind sacking almost 50% of the workforce. The new owner of Twitter said that the company had no choice as it was bleeding money. “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day,” he said in a tweet.
He also explained that everyone who was let had been offered a severance package. “Everyone exited was offered 3 months of severance, which is 50% more than legally required,” he said in the same tweet.
There had been concerns that with Twitter reducing its workforce, content moderation on the platform could take a big hit. The new Twitter CEO clarified and said that’s not the case. “Again, to be crystal clear, Twitter’s strong commitment to content moderation remains absolutely unchanged. In fact, we have actually seen hateful speech at times this week decline *below* our prior norms, contrary to what you may read in the press.”
A day before getting the sack, Twitter employees did get a memo informing them about the layoffs. “Given the nature of our distributed workforce and our desire to inform impacted individuals as quickly as possible, communications for this process will take place via email. By 9AM PST on Friday Nov. 4th, everyone will receive an individual email with the subject line: Your Role at Twitter. Please check your email, including your spam folder,” the memo read.

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