Woke Have Been Warned: The First Thing Elon Musk Will Do To Twitter Has Been Revealed

Written By BlabberBuzz | Monday, 09 May 2022 12:00
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Elon Musk plans to terminate 1,000 employees at Twitter as soon as he finishes buying the social media platform.

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 exert the ax.

But then, within the next three years, Musk expects to make thousands of new hires, swelling the ranks to around 11,000 employees, up from 7,500 now.

Much of the new talent is likely to be in the field of engineering. The company's numbers would fluctuate 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 transpire during the purchase period, according to a pitch deck Musk presented this week to investors and seen by the New York Times

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On a company level, Musk has once suggested the idea of closing down the San Francisco headquarters to save money and that board members may also not obtain a salary, shaving off another $3 million in expenses.

The changes Musk makes are part of his plan to enhance Twitter's annual revenue by five times current levels to $26.4 billion by 2028, up from $5 billion last year.

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Advertising on the platform is set to fall to 45% of total revenue under Musk, down from about 90% in 2020.

By 2028, he intends ads to gain $12 billion in revenue in 2028, while subscriptions are expected to pull in another $10 billion, according to the report.

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Musk is said to favor a subscription-based model over advertiser funding, as it would make Twitter less beholden to advertiser pressure. He has even suggested users could pay with cryptocurrency, including joke currency Dogecoin which Musk has long had an affection for.

Other revenue would come from businesses such as data licensing. Musk has also tweeted about inherent monetizing tweets, although he has not provided specific details.

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Musk also aspires to see Twitter's cash flow rise to $3.2 billion in 2025 and $9.4 billion in 2028.

Twitter's cash flow may be increased by taking on $13 billion of debt as part of Musk's buyout of the company.

However, he plans to pay down the debt and increase the company’s cash's flow.

Last month, Musk started a poll on his Twitter account - which has more than 81 million followers - asking whether the firm's San Francisco headquarters should be transferred to a homeless shelter as "no-one shows up (to work there)."

The poll got more 300,000 votes in an hour, with 90% answering yes.

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