‘Unfortunately there is no choice’: Elon Musk reacts to layoffs; says Twitter losing $4 million daily

Tesla CEO and Twitter owner Elon Musk today reacted to the layoffs happening at the micro-blogging site and said that there is no choice for him as the company is losing $4 million per day. He said that sacked employees were given 50 per cent more severance compared to legally required criteria. "Regarding Twitter’s reduction in force, unfortunately, there is no choice when the company is losing over $4M/day. Everyone exited was offered 3 months of severance, which is 50% more than legally required," said Musk in a Tweet.

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