Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 5, Musk just tweeted in response to Twitter's massive layoffs, saying that the company lost more than $4 million (about 28.8 million yuan) a day and had no choice but to cut jobs.

Source: @ Grandoldmemes

"with regard to Twitter layoffs, unfortunately, when the company loses more than $4 million a day, there is no choice," Musk wrote on Twitter. Everyone who leaves gets three months' severance pay, which is 50 per cent higher than required by law. "

CTOnews.com learned that Yoel Roth, Twitter's head of security and integrity, revealed on Twitter that the company's layoffs yesterday led to about 50 per cent of employees losing their jobs. Twitter cut 784 jobs in San Francisco, 106 in San Jose, California, and 93 in Los Angeles, according to Bloomberg.

Musk also tweeted earlier today to defend the decision to cut jobs. He said pressure from activist groups led advertisers to suspend spending on Twitter, leading to a sharp drop in Twitter revenue. "even if we don't make any changes in content censorship, and do everything we can to appease these activists. Extremely chaotic! they are trying to destroy freedom of speech in the United States." Marc said.

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