Twitter Live updates | UN human rights chief urges Musk to ensure human rights at Twitter
Users of Apple iOS devices can now pay $7.99 per month to get a verification tick next to their names just like celebrities. Photograph: (Reuters)
<p>Get all the Live updates here: Amid mass Twitter layoffs, UN human rights chief Volker Turk urged Musk to make sure that respect for human rights is central to the company's management. </p> <p>Twitter formally released its first update to the microblogging site, Apple iOS users can now pay $7.99 per month to get a blue tick making them eligible for verification just like celebrities. </p>Key Updates
06 Nov 2022, 3:37 PM (IST)
The layoffs, according to Bloomberg, are a part of a larger initiative to reduce expenses at a firm that Musk has acknowledged he overpaid for. According to the NYT, in order to purchase the business, he burdened it with over $13 billion in debt, which requires it to pay $1 billion in interest every year. The company's cash flow was less than $1 billion at the time. In essence, it made less revenue last year than it currently pays lenders on a yearly basis. This financial strain is also a contributing factor in the mad rush to monetize content and increase the number of paying consumers. According to reports, Musk is also attempting to reduce the company's infrastructure expenses.
06 Nov 2022, 12:31 PM (IST)
As per a report by Forbes, Twitter's massive layoffs had put a lot of strain on employees working as foreign nationals in the US, especially the ones with H-1B visa holders.
According to a study by the National Foundation and Immigration Services (USCIS) data by the National foundation for American Policy, nearly 8 per cent or 625 t0 670 of Twitter's 7,500 employees hold H-1B visas. They currently have a 60-day limit under the law, and their immigration status is in jeopardy, NDTV reported.
The site added that finding new employment for the sacked workers who are still in the country and have an H-1B visa is crucial.