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. 

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. 

After spending an entire week working on guidelines assigned by Musk, Cornet, an employee was fired after being informed via mail that he had violated the company's policies. He said that he is still looking for an actual reason. 

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Mark Ruffalo, best known for his role as 'Hulk', wants the new Twitter owner Elon Musk to leave the microblogging site. 

Retweeting Alexandria's tweet, Mark simply asked the world's richest man to leave Twitter in order to maintain his credibility. 

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Twitter founder and former CEO Jack Dorsey posted a series of tweets containing apologies late on Saturday (October 5), amid mass layoffs in the social media giant under its new boss Elon Musk.

Here's what he said

According to Reuters, users of Apple iOS devices can now acquire the blue checkmark next to their usernames by paying $7.99 a month, which will qualify them for the verification mark "just like the celebrities, companies and politicians you already follow."

The iOS notification lists "half the ads," the option to submit longer videos to Twitter, and priority ranking for quality content as other advantages of the update.

The paid verification will be available in the United States, Canada, Australia, New Zealand and the United Kingdom.

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