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Twitter has left 1,100 people this year, mainly to Google and Meta
More than 1,100 Twitter employees have left since Tesla CEO Elon Musk started buying Twitter shares aggressively in January.
In the past three months alone, about 530 people have left Twitter, and about 30% have gone to Twitter rivals Meta and Google. In addition, many jumped to social media platforms such as Pinterest and Snap.
"Ultimately, the uncertainty surrounding the legal battle between Musk and Twitter is driving many of Twitter's top talent to other social media," said Greg Larkin, an analyst at consultancy Punks & Pinstripes. platform."
Twitter said in August that its employee turnover rate was 18.3%. By comparison, before Musk offered to buy Twitter for $44 billion, employee turnover was between 14% and 16%.
In January, Musk began buying Twitter stock on a big spree. In April, Musk announced the acquisition of Twitter for $44 billion. In July, Musk announced the termination of the deal. Subsequently, Twitter filed a lawsuit against Musk. In early October, Musk announced that it would continue to execute the deal. A person familiar with the matter said today that Musk plans to close the deal by Friday.
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