Elon Musk To Remodel Twitter, Plans To Lay Off Staff: Report

California, October 30: After closing the USD 44 billion acquisition deal on Thursday, Elon Musk has began to reform the insurance policies of the micro-blogging platform and is losing no time reworking it by chopping off staff, and introducing plans for a council to find out content material choices, The Hill reported.

Regardless of doubting his intentions a number of instances to observe via with the USD 44 billion Twitter acquisition deal, Tesla CEO Elon Musk is now in control of Twitter. Elon Musk Says Customers Will Quickly Be In a position To Decide a Twitter Model They Like Higher After Twitter Takeover.

Relating to the adjustments in content material moderation insurance policies, Musk wrote in a tweet that “Twitter will be forming a content moderation council with widely diverse viewpoints. No major content decisions or account reinstatements will happen before that council convenes.”

In one of many first few adjustments, he purged the highest executives of the corporate as quickly as he closed the anticipated deal through which Twitter CEO Parag Agrawal and finance chief Ned Segal left the corporate’s San Francisco headquarters.

He additionally hinted that extra adjustments to the standing of accounts banned beneath earlier management are to come back within the early days of his management, in keeping with The Hill. Elon Musk Takes Over Twitter; Will He Change into The Solely Face of Communication for Social Media Firm Like Tesla?.

The Tesla CEO additionally instilled suspicion amongst social media customers when he tweeted on his Twitter “Let the good times roll” shortly after he acquired the social media platform and closed the deal.

Musk arrived on the Twitter headquarters earlier this week carrying a sink, and documented the occasion on Twitter, saying “Entering Twitter HQ – let that sink in!” and likewise up to date his Twitter description to “Chief Twit.”He tweeted a video of him and described his go to as an expertise that he was attempting to “sink in” because the Tesla CEO has till the tip of the week to both shut the Twitter deal or face a trial.

In April, Twitter accepted Musk’s proposal to purchase and take the social media service non-public. Nonetheless, Musk quickly started sowing doubt about his intentions to observe via with the settlement, alleging that the corporate didn’t adequately disclose the variety of spam and faux accounts on the service.

In July, in a shocking flip of occasions, Elon Musk who had lengthy been displaying his curiosity to purchase Twitter terminated the deal. The Tesla CEO did so by alleging that Twitter violated their mutual buy settlement by misrepresenting the variety of spam and faux bot accounts on its platform.

After Musk put out the deal termination announcement, the market noticed a pointy decline. Later, Twitter sued Musk accusing him of utilizing bots as a pretext to exit a deal.

Once more, final week, Musk confirmed that he’ll transfer ahead with the Twitter buyout on the initially agreed value of USD 54.20 per share. Nonetheless, the Twitter deal authorized proceedings had been placed on maintain by a decide overseeing the dispute till October 28.

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