The return of remote work in Twitter .. Why did Elon Musk change his position?
Elon Musk announced the cessation of the remote work system in Twitter, as soon as he took over his management, and forced all employees to return to work from offices again, and he said at the time that those who work remotely pretend to work, but it seems that he retracted his opinion at the beginning of 2023.
Forbes reported that Elon Musk, Twitter employees in Seattle and Singapore, are working remotely again, as part of the cost-cutting measures he has been following since he took over Twitter last November.
Why work remotely at Twitter?
With the exorbitant costs of working such as rent, cleaning, and security, Elon Musk has realized that the remote work system at Twitter contributes to reducing costs, which demonstrates the benefits of remote work to the American economy. Thus, Elon Musk gave up his opinion on remote work, as part of implementing Twitter's cost-reducing strategy.
And Forbes notes that Elon Musk's retreat from his stance towards remote work on Twitter highlights that the looming economic recession may in the future impose a system of remote work on technology companies. Many employees prefer remote working in general because it provides them with more freedom, while most executives find that they are able to control the performance of their employees better if they work in the office.
Twitter revenue decline
At the same time, Reuters reported that Twitter is facing a major financing crisis, due to the decline in daily revenues in January, at the beginning of the new year, by 40%, compared to the same month in the past year 2022.
Reuters quoted a person familiar with Twitter's advertising activity as saying that more than 500 Twitter advertisers have temporarily stopped spending on the microblogging site, since Elon Musk's acquisition last year 2022.