Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Elon Musk scraps Twitter’s work from home policy as ‘intense work’ is needed to succeed

by November 10, 2022
November 10, 2022
Elon Musk scraps Twitter’s work from home policy as ‘intense work’ is needed to succeed

Elon Musk has scrapped Twitter’s working from home policy and ordered its staff back to the office, days after firing 3,700 employees.

The social media platform’s new owner told staff in an email that its “road ahead is arduous and will require intense work to succeed”.

The Tesla CEO added that working from home would no longer be allowed except in special circumstances, with such cases personally vetted by Musk.

“Remote work is no longer allowed, unless you have a specific exception. Managers will send the exception lists to me for review and approval,” Musk wrote.

He added that the new policy, first reported by Bloomberg, would be effective from Thursday for a minimum of 40 hours a week.

Musk fired about half of the company’s 7,500-strong workforce last Friday, having bought it for $44bn (£38.7bn) the previous week. At the same time, he said Twitter had been hit by a pause in spending from advertisers that had caused “a massive drop in revenue”. Twitter makes most of its more than $5bn in annual revenue from advertising.

The company has begun rolling out Twitter Blue, its new subscription service, in the UK. Users who pay £6.99 a month get a blue tick next to their username, as well as early access to forthcoming features such as bookmark folders and the ability to change the colour of the app icon. Musk is hoping that Twitter Blue will reduce the company’s reliance on advertising.

Despite the chief executive’s promise last week that the international pricing of Blue would be adjusted “proportionate to purchasing power parity”, an economic measure of exchange rates that takes into account the cost of living in various countries, Musk seems to have given ground to Apple. The subscription service is billed through Apple’s in-app purchases, which locked Twitter into charging £6.99 in the UK to match the $7.99 in the US.

Musk tried to reassure advertisers about his plans for the company in a meeting on Twitter’s audio chat feature, Spaces, on Wednesday.

Big brands including General Motors, United Airlines, the cereal maker General Mills and others have paused buying ads on Twitter as they watch whether Musk‘s past comments that he is a “free speech absolutist” will lead to a rise in hate speech and divisive content on the platform.

Brands at Wednesday’s call included Deutsche Bank, Chevron, Nissan, Air Canada and Audi, which has paused Twitter ads. The American outdoor equipment retailer REI also attended and said after the call that its ads were still paused, according to Associated Press.

Musk said during the call that he was still planning a moderation council that would tackle inappropriate content and consider account reinstatements, but it would take “a few months” to assemble. He said it would be advisory and “not a command council”.

Read more:
Elon Musk scraps Twitter’s work from home policy as ‘intense work’ is needed to succeed

0
FacebookTwitterGoogle +Pinterest
previous post
Trump: Big Announcement Still On For Next Week
next post
Former Trump Cabinet Member: McCarthy “In Serious Trouble As A Candidate For Speaker”

You may also like

Accenture cuts 19,000 jobs on slowdown fears

March 24, 2023

Business Travel Resurges with a New Focus on...

June 22, 2024

Calls grow for Rachel Reeves to reform inheritance...

October 14, 2024

Starmer sets out Labour’s election agenda on Inheritance...

January 4, 2024

Royal jeweller cuts prices by 20% to counter...

September 25, 2024

New research reveals that advisers prefer EIS to...

February 20, 2023

The Business Impact of Offshore Casinos on the...

March 12, 2025

UK home energy bills could be lower than...

January 4, 2023

FundMyPitch raises £5.7m to fuel SME growth

June 20, 2023

Over 30 Chinese firms cut ties with PwC...

August 6, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved