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As Twitter loses millions a day, Elon Musk is set on staunching the flow by making cuts to servers and cloud services.
In a bid to save money after his $44 billion acquisition, Elon Musk has reportedly directed teams at Twitter to find up to $1 billion in savings. These cuts are to be found in the platform’s annual infrastructure costs.
Musk is looking to save money with server cost cuts and by introducing a higher price point for Twitter Blue, which seems to be the new verification system.
On November 3, 2022, Sheila Dang, Paresh Dave, and Katie Paul of Reuters reported that Elon Musk has ordered teams at Twitter to cut annual infrastructure costs by $1 billion. Word of this was made known to Reuters thanks to leaked internal Slack messages.
According to the messages, Twitter is aiming to save at least $1.5 million a day in savings, with a goal of $3 million, by addressing servers and cloud services. Known as the Deep Cuts Plan, employees are reportedly working in the office every day of the week in order to meet a November 7 deadline for the cost saving. This deadline also happens to be when Musk wants to introduce the new Twitter Blue subscription price that will give users the verification checkmark.
Musk is also looking to find savings through job cuts. A report by CNBC states that the new Twitter CEO is looking to fire half of all Twitter staff. In tweet by Yashar Ali, an email has circulated to employees confirming the firings will take place on November 4 with the office temporarily closed an badge access suspended to “ensure the safety of each employee as well as Twitter systems and customer data”.
With employees losing jobs, Musk introducing an $8 a month fee for a blue checkmark, and an infrastructure cost cut of $1 billion, Twitter is aiming to cinch its waist. It will be interesting to see if Musk’s $44 billion acquisition of Twitter is able to start generating revenue or if the platform sees more users jump ship, like video game reporter Nibel did earlier this week. No matter what happens, you’ll hear the latest right here on Shacknews.
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