Elon Musk said on Saturday on Twitter that Twitter is losing over $4 million a day, regarding the force reduction in Twitter.
"Regarding Twitter's reduction in force, unfortunately, there is no choice when the company is losing over $4M/day," he tweeted.
"Everyone exited was offered 3 months of severance, which is 50% more than legally required."
Regarding Twitter's reduction in force, unfortunately there is no choice when the company is losing over $4M/day.
— Elon Musk (@elonmusk) November 4, 2022
Everyone exited was offered 3 months of severance, which is 50% more than legally required.
He also said, "Again, to be crystal clear, Twitter's strong commitment to content moderation remains absolutely unchanged."
Five former employees filed a lawsuit alleging Twitter failed to provide adequate notice of job cuts on Thursday.
Several celebrities have voiced their disapproval of Elon Musk's plan to charge $8 per month for blue ticks on Twitter. Many have compared the billionaire to a fictional character who asks friends to do chores and then charges them.
Musk also criticized businesses for withdrawing their advertising from the platform. He said that Twitter has seen a massive drop in revenue as a result of activist groups pressuring advertisers, despite the fact that nothing has changed with content moderation and they did everything they could to appease the activists.
