Twitter is requesting a section of the fired employees to return back to work, barely a week after they were laid off.
The company’s new boss Elon Musk fired nearly half of the workers on Friday, November 4, as he planned to cut operational costs.
Twitter to return fired employees
According to Bloomberg, the company wants a dozen employees to return to work after realising their expertise is significant.
Musk envisioned that the workers’ experience would be necessary to build the new feature and were fired by mistake.
The company reduced about 3,700 employees, who later learned about their ouster via email and slack channels.
Twitter employees were sleeping in the office to meet Musk’s set deadlines, including the introduction of the Twitter blue checkmark pay plan.
The technicians were given until November 7 to ensure that the new plan is in place and subscribers can start rolling in.
Facebook to fire employees
This came even as Meta, Facebook’s parent company, plans to lay off thousands of workers starting this week.
The layoffs expected on Wednesday, November 9, will be the company’s first major headcount reduction, reported CNBC.
Meta has more than 87,000 employees, according to the company’s statistics reported as of September 2022.
“In 2023, we’re going to focus our investments on a small number of high priority growth areas. That means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year.
“In aggregate, we expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today,” Meta CEO said, as quoted by CBC.
The company shares dropped by 73% in 2022, making it the worst performer among social media firms’ stocks.
Meta is expected to lose about $67 billion (KSh 8.1 trillion) in stock market value by 2023, CNA reported.
Facebook change of advertisers’ terms
This prompted the company to revise its terms of service to revamp revenue collection.
The company said traders and businesses using its advertising services will be granted access based on their creditworthiness.
The new rules that take effect in January 2022 will see Credit Reference Bureau share information with social media platforms.
