Elon Musk, as the brand new owner and CEO of Twitter, is now planning to put in place a policy that will end up charging users a fee of $20 per month to be verified on the social media platform in what is thought to be a new deal that the social media titan is expected to offer.
A report from The Verge indicated the”directive is to change Twitter Blue, the company’s optional, $4.99 a month subscription that unlocks additional features, into a more expensive subscription that also verifies users,” according to various documents and sources that the outlet looked into.
While the pricing of the new service is subject to change, the plan is currently to charge $19.99 for the new type of Twitter Blue.
The report indicated that people that already had verified accounts will now have a total of 90 days to sign up for the brand new $19.99 plan or they will be made to drop their verification badge.
The report stated that Musk officially informed his employees that they must meet the deadline to launch the newest product prior to the end of the first week in November or be punished by terminating their employment.
This past Sunday night, Musk posted, “The whole verification process is being revamped right now.”
Reportedly, Musk is expected to cut close to 50% of the employees for the titanic social media platform in the new future in the wake of taking over the company near the end of last week.
It was reported by the New York Times that Musk “ordered the cuts across the company, with some teams to be trimmed more than others,” going further to say that “some managers [were] being asked to draw up lists of employees to cut.”
This past Thursday, Musk took over the company after finalizing his $44 billion buyout after a six-month period inundated with drama in which he attempted to back out at the last second.
The chief executive of Gerber Kawasaki Wealth and Investment Management, Ross Gerber, claimed that he was told by one lead official out of the Musk camp that a series of massive layoffs were on the horizon for the company’s more than 7.500-person workforce.
“I was told to expect somewhere around 50 percent of people will be laid off,” stated Gerber.
These layoffs are reportedly expected to happen prior to the employees being scheduled to get stock grants as part of their compensations, the report explained.
Reports have made the rounds that Musk was planning to effectively cut closer to 75% of the workforce, although he reportedly claimed that the actual number would not be that high.
Musk kicked off his new leadership of the company by firing leftist CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety, reported The Washington Post.
