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Twitter faces Staff Exodus as Attrition Rate Exceeds 18%

Industry: Internet Services; Social Media
Current: Company Performance

An increasing number of Twitter employees are leaving the company
The current employee attrition rate at Twitter is 18.3%
Twitter Vs Musk could be one of the most high-profile legal showdowns of the decade with more employees jumping ship

Twitter, a major social media platform, has recently garnered more media attention than usual. Twitter faced challenges in both business and human resources ever since tech entrepreneur Elon Musk said that he wanted to buy the company. During a company-wide meeting, Twitter management informed the staff that the current attrition rate is 18.3%. Before Musk disclosed his $44 billion approach to buying the company, the management had claimed that attrition was comparable to that of competitors and varied between 14% and 16%.

Attrition to Decrease Twitter’s High Employee Count

The uncertainty surrounding the merger contributed to an increase in voluntary turnover at Twitter. To attract and retain top personnel, restructure part of its operations, and train and integrate new hires, Twitter would need to spend time, energy, and resources if this trend continues. According to the company’s expansion plan, Twitter increased its employee count dramatically in 2021. Given the company’s current difficulties, it appears that the staff count could decrease drastically by the end of 2022.

Drop in Hiring

According to GlobalData Job Analytics, the total number of active jobs in Twitter in August decreased by more than 70% over that in April 2022. Prior to a court battle with Musk over whether the Tesla CEO will acquire Twitter, the company had claimed that it “substantially” reduced hiring in the second quarter to cut costs. The dispute between Twitter and Musk centered on the company’s recruiting methods. According to Musk’s lawyers, one of the reasons he was terminating the agreement was Twitter’s recent declaration that it was freezing hiring and rescinding job offer letters. Twitter claims that in its agreement with Musk, it negotiated the ability to hire and fire personnel.

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