Tesla CEO Elon Musk is expected to fire at least 1,000 staffers at Twitter once the takeover deal is completed. The transfer of ownership that takes place in the first half of this year might result in majority of Twitter's allegedly 'woke staff' fired.
Instead, the new CEO of Twitter has plans to hire thousands in the field of engineering, in the coming three years, expanding the current count of 7,500 to 11,000 employees. The takeover period is anticipated to bring about major transformations at the company level.
These transformations are believed to be a part of Musk's idea to increase the annual revenue of the microblogging site to roughly five times its present levels $26.4 billion by 2028. In an effort to reduce expenses the San Francisco headquarters might also be shut down with chances that board members would not be paid, as per the Daily Mail.
With regard to advertising, Musk seems to prefer a subscription-based model which would relieve massive amounts of advertiser pressure. With his apparent liking towards joke currency Dogecoin, he proposed cryptocurrency as alternatives with which the users can pay. Monetizing tweets is also an option being considered but no disclosure on specific details has been provided.
Being co-founder of PayPal, Musk is rather acquainted with digital payments. It is being assumed that the Tesla CEO intends establish payment abilities to Twitter.
For Twitter Blue, the premium subscription service launched last year, Musk hopes with ideas with increase users in Twitter will result in more subscriptions to Twitter Blue. An estimation of 69 million users joining the premium subscription service by 2025 is envisioned.
The cash flow of the microblogging sire is expected to rise to $3.2 billion in 2025 and $9.4 billion in 2028 as per the SpaceX CEO's masterplan. In advertising roughly $12 billion might be generated in revenue in 2028 with subscriptions adding in more $10 billion.
Overall the cash flow will be boosted by taking on $13 billion of debt as part of Musk's takeover of Twitter.
The Daily Mail reported, in his first appearance since the historic deal, was at the Met Gala where he was questioned on his plans for the social media giant, he replied, "my goal, assuming everything gets done, is to make Twitter as inclusive as possible and to have as broad a swathe of people on Twitter as possible and that it is entertaining and funny and they have as much fun as possible."
Musk recently revealed that the introduction of an edit button to revise and modify previously posted tweets with ease and will contribute in making the platform's algorithms "open source to increase trust, defeating the spam bots and authenticating all humans."
In addition to this, is the expulsion of 'bots' that give rise to run scams and spam, which is currently his topmost priority, as this aligns with his plans to ultimately make Twitter a 'safe haven' for free speech.