Elon Musk, the CEO of Twitter, is not only concerned about bots and phony accounts on this social media site. He is likewise cautious of phony employees and concerned about them. Musk fired thousands of personnel from different divisions, claiming there was nothing more to be done as the business was losing millions of dollars every day.
Why did Musk Postpone Firing Procedure?
Musk allegedly asked for a payroll audit during the dismissal procedure to make sure that the staff earning bonuses were actual beings before they were fired. Musk was concerned that any ghost employees still listed on the income statement might receive payment. Before employees get their planned bonuses, Musk wants to fire the Twitter workforce. He questioned the HR department about implementing urgent job layoffs on October 28. Twitter workers were expected to get their vested shares on 1st November as a prescheduled bonus payment. Musk reasoned that money would be saved by requesting people to depart before that date.
However, Musk was informed by the HR department that firing employees before the bonus time may lead to thousands of dollars in fines and legal fees. Musk, therefore, postponed the firing procedure.
Musk Wants Audit
Robert Kaiden, twitter’s chief financial officer, was tasked with carrying out the audit. He ordered managers to validate their knowledge of specific personnel and authenticate whether they were human. In addition to Twitter having a high burn rate, Musk wants to cut expenditures at the company since he must pay back the $13 billion in debt he took on to complete the buyout. Musk overpaid on a deal to Buy Twitter for $44 billion, and as a result, he is under pressure to reduce costs.
