San Francisco, June 17 (IANS) Tech billionaire Elon Musk has told Twitter employees that the platform "needs to get healthy" financially and bring down costs, suggesting that job cuts are likely in store if his deal to buy the social media service goes through.
When asked about the possibility of layoffs during an internal Q&A, Musk said "Right now costs exceed revenue," citing employees, The Verge reported.
"That's not a great situation," he added.
The question of layoffs has been top of mind for Twitter's more than 7,000 employees since Musk first said he wanted to buy the company.
In an earlier meeting, Twitter CEO Parag Agrawal told employees that layoffs were not being planned "at this time". Though Musk did not explicitly say if there would be job cuts, his comments suggest the odds are high.
Meanwhile, he also said that employees doing "excellent" work should be allowed to continue working from home.
However, he clarified that he strongly prefers to work in person and would confirm with managers that remote employees were contributing positively to the company.
The response came during a virtual all-hands meeting with Twitter employees, during which the Tesla CEO addressed workers for the first time and answered pre-submitted questions, read by a Twitter executive.
The meeting comes amid Musk's $44 billion takeover attempt.
Facebook, which bought Instagram in 2012, was fourth in the popularity scale, showed the results of the survey by Piper Jaffray, a leading investment bank and asset management firm.
Tech giant Apple has been told to pay $234 million to the intellectual property arm of Wisconsin University, Madison, for using without permission patented technology developed by its team, including two Indian-American engineers.
Darren Pereira's Huuver company has begun to sell online its brand of self-balancing electric boards called Uuboard (the first two vowels of both names have umlauts). A Toronto dealership is in the works
According to its CEO Mark Zuckerberg, a “Dislike” button is soon coming to Facebook that will let you reveal true feelings on your friends' wall or respond to anti-humanity posts.
MONTREAL — A Montreal tech company with big ambitions for global growth says it has an inexpensive solution for restaurateurs and other retailers looking to thrive in the digital age.
