The pulse between Twitter Y Elon Musk by the failed purchase of the company negatively affected the company’s workforce, which has seen how More than 700 employees have resigned from their positions after the meeting they had with the CEO of Tesla and SpaceX.
Although Musk was already the majority shareholder of Twitter Inc. with 10%, more than 73 million shares, his offer of 44 billion dollars to acquire the entire company and the online meeting he had with the workers in June seems to have fueled an exodus ever since.
According to a report published on the website of teslaratiTwitter employees never seemed to like the Elon Musk takeover offer. Obviously, after the statements of workers on the social network itself in which they publicly admitted that they did not want the tycoon to take over the company.
At that meeting, Musk suggested that “layoffs may be necessary,” which lowered worker morale.
The timeline of the exodus
Business Insiderciting two people reportedly familiar with Twitter’s operations and churn rate, noted that around 100 employees left the company in the three weeks following the meeting with Elon Musk.
Now, Twitter reported a net loss of more than 700 full-time employees worldwide. The publication’s sources noted that many of those who left the company cited Musk and the “instability” surrounding his acquisition of the company as the reason for leaving.
While a loss of around 700 employees may not matter as much for a company like Tesla, which employs more than a hundred thousand people, is quite significant for a company like Twitter.
In February, the social media company said it had a payroll of about 7,500 people, although that increased to about 8,200 in June 2022. That’s an overall loss of about 8.5 percent..
Elon Musk, Twitter Inc. and the lawyers for the parties will face each other in a trial on October 17 that will determine what will happen to the agreement that the richest man in the world asked to annul.