Twitter is facing an employee crisis as a large number of workers are leaving the social networking giant
As reported by the media, a large number of employees are reportedly departing social media behemoth Twitter, creating a crisis situation. As many as a dozen workers have apparently quit in the past several weeks. Twitter, headquartered in San Francisco, is one of the largest social networking and social media firms in the world, with 229 million daily active users. Workers at the social media giant have said that their company’s legal battle with Elon Musk, CEO of Tesla, is the main reason why their leaders are doing what they are doing.
A former Twitter employee claims that the company’s employees and officers no longer hold Parag Aggrawal, Twitter’s CEO, in high regard. An earlier lawsuit filed by Twitter sought to compel SpaceX founder Elon Musk to fulfill an acquisition agreement in which Musk would buy shares of Twitter and transform it into a private firm. The public has been paying close attention to Twitter for the past two months while the legal battle has been going on.
Voluntary employee departures have been linked to worries about layoffs, budget cuts, and the departures of several high-ranking officers and executives. Workers told the Insider that they think management is handling the Elon Musk situation poorly. Staff morale is poor because company responses to questions about Elon Musk have been seen with skepticism.
According to a statement sent by a Twitter representative, the company’s attrition rate remains consistent with historical norms and current market conditions. The representative did admit that the turnover rate was higher than what is considered average in stable economic times. Many twists and turns marked Elon Musk’s purchase plan, first proposed early in the year. Although the Twitter board strongly rejected Musk’s bid of 43 billion dollars, they ultimately agreed to seal the purchase for 44 billion dollars under pressure from shareholders. As soon as Elon Musk started asking Twitter for information on spam and bots on the account, things went downhill rapidly.