Elon Musk is set to lay off about 3,700 jobs at Twitter, according to a Bloomberg report.
Just two days ago, Musk proposed a subscription plan for Twitter users who have not yet been verified. By charging $8 a month, users can get the blue checkmark in addition to other "perks" such as priority in replies and mentions and search, which he said is "essential to defeating spam." He said Twitter Blue will have fewer ads and provide the ability to post longer videos and audio.
The monthly verification fee, Musk said, would also give Twitter a revenue stream to reward content creators. Elon Musk has taken control of Twitter after a protracted legal battle and months of uncertainty. The question now is what the billionaire Tesla CEO will actually do with the social media platform.
The announcement came one day after Musk was reportedly going to start charging nearly $20 a month for the feature. Musk took control of Twitter last week and immediately ousted the CEO, chief financial officer and the company’s top lawyer. The world's richest man paid $44 billion for the company. He's wants to increase revenue at the company.All the news you need to know, every day
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