Elon Musk Calls Activist Pressure On Twitter Advertisers “An Attack On The First Amendment,” Says Layoffs Will Save $400M A Year
Musk said he and his advisors have “done our absolute best to appease them and nothing is working,” describing it as a “major concern.” Earlier in the day, he said the company’s ad revenue had already taken a “massive” hit from the ad pullback. Even for companies not clouded by controversy, of course, the digital ad market has been rough lately, with major names like Meta, Snap and YouTube all reporting declines.
While the talk covered a lot of ground beyond Tesla, the two did discuss the savings from the layoffs, which Musk pegged at $400 million a year. Although it will be “very difficult to achieve” a return on such a sky-high investment, Musk said it is “possible” that Twitter could eventually become “one of the most valuable companies in the world.
Cornet was terminated Nov. 1 without advanced written warning. Plaintiffs De Caires, Pan and Kindel were locked out of their Twitter accounts on Nov. 3, “which they understood to signal that they were being laid off.” The suit said the federal WARN Act and the California WARN Act require 60 days advance written notice of a mass layoff. Various tweets also pointed out to a similar statute in New York State and in the UK, with the latter requiring 90 days notice.
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