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Meanwhile, Twitter has cut half of its workforce and Musk raised the possibility of the social media platform going bankrupt.
The chief executive of Twitter, who is also Tesla (NASDAQ:TSLA) Inc boss, has taken the following actions:
* TOP MANAGEMENT CUTS
Musk fired top executives including CEO Parag Agrawal, CFO Ned Segal, legal affairs and policy chief Vijaya Gadde, shortly after the deal was completed on Oct. 27.
* ADVERTISERS HIT PAUSE
Several corporate advertisers distanced themselves from Twitter, including General Motors (NYSE:GM), Oreo maker Mondelez (NASDAQ:MDLZ) International, Pfizer Inc (NYSE:PFE) and Ford. He had earlier said he wanted the company to be “the most respected advertising platform”.
* CONTENT MODERATION COUNCIL
Musk on Oct. 29 said he would set up a content moderation council with “widely diverse viewpoints”.
* LAYOFFS
Laid off half the workforce. The company fired more than 90% of its India staff, Bloomberg News reported. It also reported that Twitter was asking dozens of employees who lost their jobs to return.
* ROLLS OUT $8 SERVICE
Twitter on Nov. 5 launches an $8 subscription service that gives the user a verified blue check mark and other features.
* SEARCH IMPROVEMENTS
Musk on Nov. 5 said Twitter’s in-app search would be improved. “Search within Twitter reminds me of Infoseek in ‘98! That will also get a lot better pronto,” he tweeted. ()
* LONG-FORM TEXT TO TWEETS
Musk said on Nov. 5 that Twitter would soon add the ability to attach long-form text to tweets, followed by monetization for creators for all forms of content. ()
* IMPERSONATION TO LEAD TO ACCOUNT SUSPENSION
Twitter users engaging in impersonation without clearly specifying it as a “parody” account will be permanently suspended without a warning, Musk tweeted on Nov. 6.
* CONTENT ACCURACY
Musk said on Nov. 6, Twitter’s mission is to become the most accurate source of information about the world.
* OFFICIAL LABEL
On Nov. 8, Twitter introduces an “Official” label for select verified accounts including major media outlets and governments when it launches its new $8 premium subscription product.
* KILLS OFFICIAL LABEL
On Nov. 9, Musk tweets that he “killed” the new official label for Twitter accounts, on the same day that it began rolling out.
* SPACES SESSION WITH ADVERTISERS
Musk told advertisers on Nov. 9 he aimed to turn the social media platform into a force for truth and stop fake accounts in an effort to assuage brands and advertising agencies that have increasingly been backing away.
* WARNS OF BANKRUPTCY
On his first mass call with employees, Musk raised the possibility of the social media platform going bankrupt, Bloomberg News reported.
* HALTS $8 SERVICE, BRINGS BACK ‘OFFICIAL’ LABEL
On Nov. 11, Twitter paused the $8 blue check subscription service as fake accounts mushroomed, and brought back the “official” badge to some users of the social media platform.
* SPACEX BUYS AD CAMPAIGN ON TWITTER FOR STARLINK
Musk on Nov. 14 tweeted that his rocket company SpaceX has bought a “tiny” advertising package on Twitter for its satellite internet service Starlink.
