Elon Musk completed his acquisition of the Twitter platform on October 27, 2022 for $44 billion, and since entering the company's headquarters, we have witnessed many new events and decisions that will completely change the nature of the platform during the coming period.
Today we're going to review all the changes that have occurred in Twitter since Elon Musk took over:
1- Mass layoffs of Twitter employees:
Elon Musk made his first Twitter decision as soon as he entered the corporate headquarters on October 27, 2022; The members were: Parag Agrawal, CEO of the platform, Ned Segal, chief financial officer, Vijaya Gadi, legal officer, and Shawn Edget, general counsel.
He then quietly fired other executives, including some who announced their resignations, including firing the CTO while he was on leave.
Then, four days later, Sarah Personette, Twitter's head of ad sales, quit, worrying advertisers even more.
By the morning of Friday 4 November 2022; Musk has fired as many as 3,700 of them — nearly half of Twitter's employees — and that has affected all parts of the company.
Employees were told in an email on Thursday evening that the company would begin the difficult process of reducing its workforce on Friday.
"We understand that a number of people who have made significant contributions to Twitter will be affected, but unfortunately this action is necessary to ensure the company's future success," the letter read.
And it didn't take long for some employees to file a lawsuit on Twitter over the dismissal proceedings.
Musk also said he expects to implement the plan to fire employees, and reduce infrastructure costs by $1 billion annually.
2- Raising the price of the accounts authentication service:
On November 1, Musk announced that his Twitter Blue subscription service would be priced at $8 a month from $5, after criticizing his plan to charge $19.99 a month for the service.
Musk tweeted, “Power to the people! Blue for $8 a month.
Then the Twitter platform began on Saturday, November 5, by launching the Twitter Blue service for $ 8 per month for users of the application via iPhone phones, as the latest update to Twitter is now available in the Apple App Store (App Store), which indicates that users who pay a fee of $ For $8 per month they will get the blue verification tick on their account just like: the celebrities and politicians we already follow.
The update is currently listed as available for users in the United States, Canada, Australia, the United Kingdom, and New Zealand.
But the New York Times soon reported on Sunday that Twitter has postponed users' access to the service until after the end of the US midterm elections scheduled for Tuesday, in order to avoid affecting the elections or causing confusion; Because the service makes it easy for any user to verify their account which makes it a trusted entity for the users.
3- Advertisers withdrew from Twitter:
Musk's decisions to lay off employees and reduce restrictions on content posted on Twitter have alarmed advertisers across the platform, and this has prompted IPG - one of the world's largest advertising companies - to recommend to its clients that they pause ad spend across the platform.
IPG's clients include: American Express, Coca-Cola, Fitbit, GoPro, Johnson & Johnson, Levi Strauss & Co, Mattel and Spotify.
Other companies have stopped advertising on Twitter in recent days, including: Volkswagen, General Motors, Pfizer and Audi. This caused a significant decline in the platform's revenues, which was announced by Elon Musk through his account, and he attributed the reason to the pressure of activist groups on advertisers!
4- The return of the Vine service for videos:
In a tweet on October 31, Musk polled his followers to see if they would like to bring back Vine, the short video service that has been discontinued on Twitter.
About 70% of his followers said yes, and within a day reports emerged that he had ordered developers to work on bringing back the Vine service, with a deadline at the end of this year.
The Source
- Agencies