Twitter’s troubles with Elon Musk appear to have adversely affected the company’s workforce. Since Musk spoke to the social media company’s employees in June, hundreds have reportedly left Twitter in what appears to be a Musk-fueled exodus.
Twitter employees never seemed to like Elon Musk’s acquisition offer to begin with. This was evident in vocal statements from Twitter employees on the social media platform itself, some of which openly admitted that they did not want the Tesla CEO to take over the company. Musk’s virtual meeting in June, where he mentioned that layoffs might indeed be necessary, did little to help employee morale.
Citing two people reportedly familiar with Twitter’s operations and attrition rate, Insider noted that about 100 employees left the social media company in the three weeks after the Tesla CEO’s virtual meeting. And as Musk announced that he was backing down from his acquisition attempt and Twitter took him to court, things reportedly got worse.
As of late September, Twitter reportedly saw a net loss of over 700 full-time employees worldwide. The publication’s sources noted that many who left the company cited Musk and the “instability” surrounding his acquisition of Twitter as their reason for leaving.
A Twitter spokesperson noted that the company expected an increased level of attrition even before Musk came into the picture. The spokesperson also noted that macroeconomic factors had affected the company’s retention. This is quite interesting since Twitter, in its court proceedings against the Tesla CEO, stated high attrition was one of the damaging effects of Musk’s attempt to back out of his buyout deal.
While a loss of about 700 employees may not matter as much to a company like Tesla, which employs over a hundred thousand people, it is quite significant for a company like Twitter. Back in February, the social media company noted that it had a headcount of about 7,500 people, although this increased to about 8,200 in June 2022. That’s an overall loss of about 8.5%.
With this in mind, it does appear that Elon Musk and his eventual legal issues with Twitter have resulted in problems for the social media company. “The general morale is so low. But for sure, people started to leave because of Elon,” an employee noted.
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