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Twitter will lay off staff Friday, the social media giant said in an email obtained by NBC News. In the email, sent Thursday evening, Twitter said it would notify staff by email starting Friday morning about their employment. One Twitter employee said Thursday's email was the first communication staff had received from Twitter since the acquisition Oct. 27. "It's total chaos, house melting down, everyone looking towards this email," the employee told NBC News. "At the end of this nightmare, I better get a cash prize," one Twitter employee told NBC News.

☆ Factbox: Twitter 2.0: Musk warns of bankruptcy, flip-flops on blue check mark in chaotic start
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/Illustration/File PhotoNov 18 (Reuters) - Twitter has had a bumpy ride since new owner Elon Musk took charge last month. Twitter has also cut staff by half, while Musk has raised the possibility of the social media platform going bankrupt. read more read more* ROLLS OUT $8 SERVICETwitter on Nov. 5 launches an $8 subscription service that gives the user a verified blue check mark and other features. read more* WARNS OF BANKRUPTCYOn his first mass call with employees, Musk raised the possibility of the social media platform going bankrupt, Bloomberg News reported. read more* RELAUNCH $8 SERVICE ON NOV. 29On Nov. 15, Musk said the sought-after blue check subscription service will be relaunched on Nov. 29, a minor delay from his initial tentative timeline.

☆ Elon Musk can be 'vicious' in the workplace, a former SpaceX VP says
▼ + stars: | 2022-11-04 | by ( Grace Dean | Kiera Fields | ) www.businessinsider.com time to read: +3 min

A former SpaceX VP says Elon Musk can be "vicious" in the workplace. Jim Cantrell told Insider staff never knew whether there were getting "good Elon" or "bad Elon." He added Musk could change Twitter's business performance "from sheer force of willpower." Musk added Twitter to his portfolio in late October, acquiring the social-media platform for $44 billion. One workplace-culture expert previously told Insider that Musk's "autocratic leadership" would be in "great contrast with the type of openness and flexible mindset that is integral to Twitter's culture."

☆ We asked top business school professors to analyze Elon Musk's first week running Twitter: 'A case study of failed leadership.'
▼ + stars: | 2022-11-04 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +5 min

Elon Musk's acquisition and management of Twitter is a business school case study for the ages. Insider asked leading business school professors for their views on his first week. One said he was a failed leader and should stick to innovation, another said Musk was right to clear house. 'Not right for leadership or management'Musk's approach to management is "a case study of failed leadership," as William Klepper, a management professor who teaches an executive leadership course at Columbia Business School, would define it. For Klepper, Musk's autocratic style leaves no room for constructive criticism.

☆ Premarket stocks: Interest rates will keep rising. How high will they go?
▼ + stars: | 2022-11-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

What’s happening: No one can move markets like Federal Reserve Chair Jerome Powell — with just a few words on Wednesday he crushed investors’ hopes of an interest rate pivot and sent stocks plunging. “Our decisions will depend on the totality of incoming data and their implications for the outlook for economic activity and inflation,” Powell said on Wednesday. The United Kingdom will face hard economic times and elevated interest rates well into next year, officials warned this week. That will require more interest rate hikes in the coming months, warned policymakers. Several Twitter employees have already filed a class action lawsuit claiming that the layoffs violate the federal Worker Adjustment and Retraining Notification Act.

Elon Musk is shaking up Twitter. From the blunt email to Twitter employees about layoffs to angry advertisers, a lot is happening. Insider has exclusive insights from employees, advertisers and others about working with Musk. And this kind of chaos is only the beginning, warns one former SpaceX VP who says Elon Musk can be 'vicious' in the workplace. Rebecca Blackwell/AP PhotoAdvertisers are nervously pausing their spendMusk has been wooing advertisers, his major Twitter customers, but they are wary.

☆ Fact Check-Video does not show Elon Musk firing Twitter exec on live radio show
▼ + stars: | 2022-11-03 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A widely shared video appears to capture Elon Musk firing former legal affairs and policy chief Vijaya Gadde during a live radio show. One post reads, in part, “Elon Musk fires Twitter's Chief Legal Officer and Policy Chief Vijaya Gadde ON AIR!” (here). Reuters reported on Friday that Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter (here). Reuters was unable to identify the exact origin of the following phrase attributed to Musk in the parody video: "Failure comes with a big penalty, you're fired." Elon Musk did not fire a Twitter executive during a live radio show.

☆ From ex-CEO Parag Agrawal to Vijaya Gadde, here are the top Twitter executives who have been fired or left the company since Elon Musk's takeover
▼ + stars: | 2022-11-03 | by ( Sam Tabahriti | Grace Dean | ) www.businessinsider.com time to read: 1 min

Musk is overhauling TwitterElon Musk. Michael Gonzalez/Getty ImagesTesla CEO Elon Musk, the world's richest man, sealed the deal and acquired Twitter for $44 billion on October 27 after months of costly litigation. Following his takeover, one of his first moves was to fire four top executives. Musk had already put in motion wide-ranging plans for Twitter, including charging users for verification, bringing back video-sharing app Vine, and laying off staff, as he plans to overhaul the company. Here are all the executives and top managers who have either been fired or left the social media company following Musk's takeover.

☆ Twitter to begin layoffs Friday, days after Elon Musk's $44 billion takeover
▼ + stars: | 2022-11-03 | by ( Rob Wile | Ben Collins | ) www.cnbc.com time to read: +2 min

Twitter will be laying off staff Friday, the social media giant said in an email obtained by NBC News. In the email, sent Thursday evening, Twitter said it would be notifying staff by email starting Friday morning about their employment. The cuts come after numerous reports that Musk had planned to slash the company's 7,500-person payroll after he finalized his $44 billion acquisition of Twitter late last week. Meanwhile, Musk has sought to reassure advertisers, saying in a post to Twitter that the platform would not become a "free-for-all hellscape." That was among nearly two dozen tweets Musk posted to the site last weekend, though few offered additional clarity on what the site will look like under his leadership.

☆ Twitter — one of the first companies to let staff WFH permanently after the pandemic — plans to order employees back to the office: reports
▼ + stars: | 2022-11-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Twitter plans to cut about half of its workforce following Elon Musk's $44 billion acquisition. It is planning to order staff to return to the office on a full-time basis after layoffs, per Axios. The social media company was one of the first to allow staff to work from home indefinitely. After the cuts, Twitter plans to order its remaining employees to return to the office on a full-time basis, Axios reported, citing sources inside the company. Employees who need to relocate to be near a Twitter office will have as little as 60 days to do so, according to the media outlet.

Chief People and Diversity Officer Dalana Brand announced on Tuesday in a LinkedIn post that she had resigned last week as well. General manager for core technologies Nick Caldwell confirmed his departure on Twitter, changing his profile bio to "former Twitter exec" by Monday night. Multiple employees who spoke with Reuters said they continue to receive little communication about the future of the company. An all-staff meeting that was scheduled for Wednesday was canceled, following the cancellation by Twitter of a check-in call last week. Use of the n-word has increased by nearly 500% on Twitter, said the Network Contagion Research Institute, which identifies "cyber-social threats."

☆ Elon Musk fired CEO Parag Agrawal after taking over Twitter. He joins a growing list of executive departures in 2022, including Meta's Sheryl Sandberg and a slew of retail CEOs.
▼ + stars: | 2022-11-02 | by ( Samantha Delouya | ) www.businessinsider.com time to read: 1 min

In February, John Foley, Peloton's co-founder, announced that he would step down as CEO. He was at the helm during the company's pandemic-fueled rise and its subsequent sharp drop in demand. Barry McCarthy, who was once CFO of both Spotify and Netflix, took over the top spot. Peloton co-founder John Foley Mark Lennihan/AP

☆ Twitter’s C-suite clears out as Musk cements power over the company
▼ + stars: | 2022-11-02 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

In less than a week since Musk acquired Twitter, the company’s C-suite appears to have almost entirely cleared out, through a mix of firings and resignations. Musk has also dissolved Twitter’s former board of directors. At the same time, Musk is also running several other companies, including as CEO of Tesla and SpaceX. Musk immediately fired four of Twitter’s top executives — CEO Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett and Policy Head Vijaya Gadde. It’s unclear whether VP of Operations Lindsey Iannucci, the other two members of Twitter’s top leadership team, will remain with the company.

Personette, who was chief customer officer, follows executives including former Twitter Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal, whom Musk fired last week. Chief People and Diversity Officer Dalana Brand announced on Tuesday in a LinkedIn post that she had resigned last week as well. General manager for core technologies Nick Caldwell confirmed his departure on Twitter, changing his profile bio to "former Twitter exec" by Monday night. Jason Calacanis, an angel investor and Musk confidant working on Twitter, on Monday said Twitter was having "a very productive day" meeting with marketers and advertisers. Experts have said hateful content has skyrocketed since Musk closed his acquisition of Twitter last week.

☆ Twitter ad sales chief Personette says in tweet she quit the company
▼ + stars: | 2022-11-01 | by ( Sheila Dang | ) www.reuters.com time to read: 1 min

Nov 1 (Reuters) - Twitter's advertising chief Sarah Personette tweeted on Tuesday that she had resigned her post last week, adding further uncertainty for advertisers wondering how the social media company will change under Elon Musk. Personette, who was chief customer officer, follows other executives out the door, including former Twitter Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal, whom Musk fired last week. read morePersonette did not immediately respond to request for comment. Reporting by Sheila Dang in Dallas; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk, who runs four other companies, will now be Twitter CEO
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, fired Twitter's previous chief, Parag Agrawal, and other top company officials last week. Musk had previously changed his Twitter bio to "Chief Twit" in an allusion to his planned move. Twitter on Monday declined comment on how long Musk might remain CEO or appoint someone else. In another filing on Monday, Musk revealed that he became the sole director of Twitter as a result of the takeover. Last week, Musk's takeover of the social media company for $44 billion concluded a months-long saga.

☆ Elon Musk enlists more than 50 Tesla workers, 2 Boring Company staff, and one Neuralink employee to work at Twitter post-takeover, report says
▼ + stars: | 2022-11-01 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Elon Musk has authorized Tesla, Boring Company, and Neuralink staff to work at Twitter, per CNBC. Some Tesla directors were also enlisted to work at Twitter, CNBC reported, citing documents. More than 50 employees at Tesla have been authorized to work at Twitter, according to internal documents seen by CNBC. As well as Tesla workers, the world's richest man has also enlisted two staff members from his tunnelling venture, The Boring Company, and one employee from his brain-chip business, Neuralink, CNBC reported, citing the documents. CNBC's report follows the firing of some top executives at Twitter, as well as CEO Parag Agrawal, hours after Musk took over the site.

☆ Elon Musk says paying Twitter $8 per month will get you a blue verified checkmark, fewer ads, and priority in tweet replies and search
▼ + stars: | 2022-11-01 | by ( Travis Clark | ) www.businessinsider.com time to read: +3 min

Elon Musk said on Tuesday that Twitter's new verification system would be $8 per month. Musk is referring to Twitter Blue, the platform's subscription model that gets members exclusive benefits. Musk aims to completely overhaul it, and make the verification system that gets people their blue check marks a part of the subscription. Musk said in follow up tweets that the new Twitter Blue would also get subscribers:"Priority in replies, mentions and search," which he said is "essential to defeat spam/scam." The Washington Post reported that Musk is planning to layoff 25% of Twitter's workforce.

☆ Elon Musk has already cut a number of high-ranking Twitter managers, as employees await word on layoffs
▼ + stars: | 2022-11-01 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

As Elon Musk and his transition team at Twitter have compiled lists of which employees should be let go en masse, a trickle of cuts has begun, Twitter employees tell Insider. Another characterized the silence Twitter workers have been met with since Musk took over as "bullshit." Among them are Nick Caldwell, general manager of Twitter, who two employees told Insider was away from work dealing with the sudden death of his wife. At least two mid-managers in product and engineering were also let go late on Sunday and did not receive severance, the employees told Insider. Are you a Twitter employee or someone with insight to share?

☆ One of Twitter's top execs quit the day after tweeting that she had a 'great discussion' with Elon Musk about the company's future
▼ + stars: | 2022-11-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Twitter's CCO said she quit her job just hours after Elon Musk completed his $44 billion takeover. On Thursday, Personette tweeted that she'd had a "great discussion" with Musk. "Remember that we create the organization we want to be a part of," Personette tweeted. Personette tweeted on Thursday, just hours before the deal went through, that she'd had a "great discussion" with Musk the prior evening. Personette resigned the day after posting the tweet.

☆ Elon Musk says he will be Twitter CEO
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: 1 min

Oct 31 (Reuters) - Billionaire Elon Musk said on Monday he would be the chief executive officer of Twitter, the social media company he recently acquired for $44 billion. The move comes after Musk, who also runs Tesla (TSLA.O) and SpaceX, fired Twitter CEO Parag Agrawal and other top company officials last week. Musk had also changed his Twitter bio to "Chief Twit" in a sign alluding to this move. Last week, Musk's takeover of the social media company for $44 billion concluded a months-long saga. read moreReporting by Chavi Mehta in Bengaluru; Editing by Anil D'Silva and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Twitter to lay off 25% of workforce in first round of job cuts - Washington Post
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

Celebrity lawyer Alex Spiro, a long-time Musk legal representative, led the conversations about the job cuts, according to the report. Twitter had over 7,000 employees at the end of 2021, according to a regulatory filing and a quarter of the headcount amounts to nearly 2,000 employees. Musk denied a New York Times report about laying off Twitter employees at a date earlier than Nov. 1 to avoid stock grants due on the day. Musk fired Twitter Chief Executive Parag Agrawal, Finance Chief Ned Segal and Legal Affairs and Policy Chief Vijaya Gadde on completion of a six-month $44 billion buyout saga of the social media platform on Thursday, sources told Reuters. Reporting by Akash Sriram in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk denied reports that he's speeding up Twitter layoffs to avoid paying out hefty stock grants to workers
▼ + stars: | 2022-10-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Elon Musk said reports he's speeding up layoffs to avoid paying out stock grants are false. Musk is set to lay off workers before Tuesday, when they're scheduled to receive stock grants, per the NYT. Media reports suggest that Musk may also avoid giving fired execs their expected multi-million-dollar payouts. The Times reported that Musk could therefore avoid paying the grants. The Information reported that the "for cause" terminations were an attempt to avoid paying out severance pay and unvested stock awards.

☆ Premarket stocks: A spooky forecast for the future of interest rates
▼ + stars: | 2022-10-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN Business —When will central banks stop raising interest rates? This week, the Federal Reserve is expected to increase rates by 75 basis points for the fourth time in a row. For some time, it was thought that 2023 would bring lower interest rates and a return to dovish monetary policy. Even the Federal Reserve appears confused about when it will stop rate hikes. A possible answer: Wall Street tends to favor big events, but the future of central bank policy may be more nuanced.

☆ Twitter employees expect layoffs as Elon Musk preps 'aggressive' cuts
▼ + stars: | 2022-10-31 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

And that's not to mention that employees are preparing for layoffs after Twitter leaders and VPs made lists of who to keep. Twitter employees expect layoffs to begin very soon. By Saturday afternoon, they handed Elon Musk lists of employees "to keep," two people said. Elon Musk fired Twitter execs "for cause" in a bid to avoid paying out tens of millions in severance. Among this year's biggest losers are those who've invested heavily in the metaverse (Meta CEO Mark Zuckerberg) and crypto (Binance CEO Changpeng Zhao).

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