Twitter and Musk

So in summary, over 500 top advertisers on Twitter have stopped advertising, revenue is down by over 40%, 14 of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took over, 72 out of the top 100 advertisers have paused advertising (from earlier reports), and forward bookings of advertising are down despite massive incentives for free ads promoted by Twitter. Quite the disaster. Great job, Elon.

Over 500 advertisers have paused spending on Twitter - report
Since Musk took over Twitter last October, corporate advertisers have fled in response to the billionaire laying off thousands of employees.
https://www.jpost.com/business-and-innovation/article-728868

Here's what Twitter lost in advertising revenue in final months of 2022
https://www.reuters.com/technology/...rtising-revenue-final-months-2022-2023-01-19/
 
gwb-trading said:
Remember when Musk said no more layoffs. Yeah, he was lying. He is about about chop 50 more Product team members.

Elon Musk's Twitter Reportedly Isn't Done Laying Off Workers
https://www.benzinga.com/news/23/01...itter-reportedly-isnt-done-laying-off-workers

Elon Musk-led Twitter reportedly has plans to terminate 50 workers in its product division in the coming weeks.

What Happened: The layoffs will come in the coming weeks, reported Insider, citing two people familiar with the matter.

Twitter employees expect that the company’s plans to close many international offices and smaller offices within the United States will lead to more pink slips, according to the report.

While Musk had reportedly said no further layoffs were planned, the employees are taking his words with a pinch of salt.

"He just says stuff that sounds right at the time,” a person familiar with Twitter told Insider.

Twitter did not immediately respond to Benzinga’s request for comment.

Why It Matters: Should the layoffs take place, Twitter’s headcount will fall under 2,000, according to Insider.

Twitter laid off thousands of workers in November in departments across the company, a move that was justified by its then-new owner Musk, who said, “Unfortunately there is no choice when the company is losing over $4 [million]/day.”

Twitter has been bleeding advertisers since Musk took over with several high-profile companies pausing promotions on the platform fearing a rise in hate speech and false information.

On Saturday it was reported that Musk got a favorable court ruling against a group of dismissed employees that sued Twitter over their severance compensation.

Read Next: Elon Musk's Trial Over 2018 Tesla Tweet Leaves Prospective Jurors Sharply Critical Of Billionaire: 'Off His Rocker'
More...


How many tweets you gonna repost today Bro?
 
For those not following the news over the weekend -- someone has printed out Twitter's entire current organization chart. There are only 1300 employees. Musk tried to push on Twitter that there are 2300 employees -- which was quickly debunked as yet another laughable lie from Musk.

The Trust and Safety team has a mere 20 employees -- while Musk claims there are hundreds. A untrue claim that was quickly mocked on social media.

Musk can't even get the number of people who came over to Twitter from his other companies correct -- claiming there are only 10 while to org chart shows 130.

Twitter Reportedly Employs Just 1,300 Full-Time Workers, Musk Says 2,300
This staff count, reported by CNBC, means Twitter has lost over 80% of the 7,500 employees it had before Elon Musk took over the company at the end of October.
https://www.pcmag.com/news/twitter-reportedly-employs-1300-full-time-workers-musk-says-2300

After layoffs and terminations under Elon Musk, Twitter reportedly employs just 1,300 full-time working employees. Fewer than 550 are full-time engineers, while the company’s trust and safety team has around 20 full-time workers, according to internal records seen(Opens in a new window) by CNBC.

This staff count means Twitter has lost over 80% of the 7,500 total employees it had before Musk formally took over the company at the end of October. Alongside mass layoffs, Musk has closed down a huge data center, Twitter’s Seattle office, laid off janitorial and cleaning staff across company offices and terminated a work-from-home forever policy that had been rolled out under previous CEO and founder Jack Dorsey.

CNBC also reports that there are 1,400 non-working employees who are still on the company payroll, many of whom resigned from their positions when Musk sent out a pledge in November asking them to commit to “hardcore” work.

The report was slapped down by Musk, who tweeted(Opens in a new window) there are roughly 2,300 “active, working employees at Twitter” alongside “hundreds of employees working on trust & safety.”

He adds that fewer than 10 people from his other companies had gone to work at Twitter, rebutting the same CNBC report that alleged 130 people from companies including Tesla, SpaceX, and The Boring Company were working at Twitter.

Earlier this week, Tweetbot and Twitterific shut down after Twitter updated its developer agreement(Opens in a new window) to officially ban third-party clients from using the company’s licensed materials to “create a substitute or similar service.” The move came after days of silence from the company amid third-party clients breaking after Twitter restricted the use of its API.
 
gwb-trading said:
So in summary, over 500 top advertisers on Twitter have stopped advertising, revenue is down by over 40%, 14 of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took over, 72 out of the top 100 advertisers have paused advertising (from earlier reports), and forward bookings of advertising are down despite massive incentives for free ads promoted by Twitter. Quite the disaster. Great job, Elon.

Over 500 advertisers have paused spending on Twitter - report
Since Musk took over Twitter last October, corporate advertisers have fled in response to the billionaire laying off thousands of employees.
https://www.jpost.com/business-and-innovation/article-728868

Here's what Twitter lost in advertising revenue in final months of 2022
https://www.reuters.com/technology/...rtising-revenue-final-months-2022-2023-01-19/
More...

The advertising revenue situation under Musk just keeps getting worse. Even if a large media company owner was deliberately trying to sink their advertising revenue -- it is hard to drop this quickly.

Desperation Sets In: Twitter Offers To Match $250,000 In Ad Spending To Lure Pissed Off Advertisers Back
https://www.techdirt.com/2023/01/19...spending-to-lure-pissed-off-advertisers-back/
 
muh free speech absolutist!

upload_2023-1-25_13-54-34.png
 
You must log in or register to reply here.
Back
Top