Firings happen whenever a company is sold. It’s the nature of the beast. Sometimes it’s just a matter of minor reorganization. Other times, a company is so plagued by weak employees, middle managers, and executives that a massive purge is necessary. That’s what Elon Musk sees at Twitter.
According to The Daily Mail, Musk wants to fire 1,000 of its 7,500 employees before ramping up hiring in a big way:
Elon Musk is planning to fire 1,000 staffers at Twitter as soon as his purchase of the social media platform is complete. It’s believed he will fire many of the firm’s woke staff following the transfer of ownership which will take around six months, after which Musk is likely to wield the ax. But then within the next three years, Musk anticipates making thousands of new hires, swelling the ranks to around 11,000 employees, up from 7,500 currently.
Much of the new talent is likely to be in the field of engineering. Numbers at the company would fluctuate rising to 9,225 employees this year before falling to 8,332 in 2023. Then adding a further 2,700 workers by 2025. Most of the jobs being shelved would occur during the takeover period, according to a pitch deck Musk presented this week to investors and seen by the New York Times.
But that’s not all he has planned. He believes he can bring Twitter’s revenue from around $5 billion last year to over $26 billion by 2028. How? By reducing dependence on advertising and offering a premium subscription service at $3 per month that he believes will attract 69 million paying users.
Musk is the type of guy who doesn’t believe in going small. That’s part of the reason he’s the richest man in the world. We’ll see how well Twitter is able to adjust to his unique style of management. Perhaps he may find he needs to fire more than 1,000 wokesters.