Mass layoffs. Skittish advertisers. Strong pushback on subscription proposals. Things have been turbulent at Twitter since billionaire Elon Musk's takeover of the social media platform one week ago. The newly minted CEO acknowledged in a tweet on Friday the company has seen a "massive drop" in revenue since he took over in a $44 billion deal. He has set out to fire 3,700 employees — about half of Twitter's workforce — to cut costs and address the company's debt. That's prompted former employees to file a class-action lawsuit, arguing he broke federal and California state law by not giving enough notice for mass layoffs. Several major companies, including General Mills, Pfizer and Audi, have pulled their advertising from the platform since Musk's takeover last week.
Leaders of dozens of civil rights and other advocacy groups are calling on others to follow suit after Friday's mass layoffs just days before a crucial midterm election.
The company, which hasn't charged a user fee since its launch, previously reported making 90 percent of its money from advertisers.
Musk recently has floated the idea of charging users $8 a month for premium Twitter features, including verification badges. But more than half of Twitter users say they would not pay to use the platform, according to a new survey out this week.
Read more here. |
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Welcome to The Hill's Evening Report, catching you up on news from the afternoon and looking at the big stories likely to impact tomorrow. |
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🇺🇸 ELECTION HUB: Live results from Tuesday night races
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The Hill will have live updates as polls close for Senate, House, Governor and key ballot initiatives across the nation next week.
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📺 THE HILL VIDEO: Pennsylvania to play pivotal role in midterms
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The Hill traveled across Pennsylvania ahead of Election Day to get a sense of what issues voters were most concerned about in the state that is seen as a microcosm of the country. |
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🏛️ Trump celebrates acquittal of ally as setback for 'radical left'
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Former President Trump celebrated the acquittal of his longtime friend Tom Barrack on Friday, calling it setback for the "radical left."
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🗣️ Trump signals 2024 announcement could be imminent
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The former GOP president is signaling he could declare a 2024 White House bid soon after the midterm elections. |
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📈 Biden bashes GOP economic message after unemployment ticks up
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President Biden went after Republicans' economic message and vowed to keep working to bring down inflation following a jobs report Friday that showed robust hiring in October but a slightly higher unemployment rate. |
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🐘 Cook Political Report shifts Senate forecast toward Republicans
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The nonpartisan election handicapper Cook Political Report has shifted its forecast of control for the Senate toward Republicans just four days out from the midterm elections. |
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💰 Powerball jackpot hits record amount: How much money is $1.6B?
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After 39 consecutive drawings without a top prize winner, the Powerball jackpot has swelled to an estimated $1.6 billion — the largest jackpot in the history of U.S. lottery. |
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⏰ Why is there a push to end Daylight Saving Time?
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Most Americans will reluctantly turn their clocks back one hour on Sunday as Daylight Saving Time ends for the year.
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📄 House Judiciary GOP charts course for FBI, DOJ probes
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Republicans on the House Judiciary Committee have released a lengthy staff report on Friday on alleged politicization and anti-conservative bias in the FBI and Department of Justice, a document that will serve as a road map for more probes of the agencies if the GOP wins control of the House in next week's midterm elections. |
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☀️ Newsom halts $1B in homelessness funding
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California Gov. Gavin Newsom (D) has halted $1 billion in funding for homelessness initiatives throughout the state, calling the current approach "unacceptable." |
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🇺🇦 Sullivan meets with Zelensky to announce $400M in military aid
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White House national security adviser Jake Sullivan traveled to Kyiv on Friday to meet with Ukrainian President Volodymyr Zelensky and announce a new $400 million military assistance package the United States is sending amid the Russian invasion. |
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👟 Scarborough blasts Nike for continued Irving relationship |
MSNBC's "Morning Joe" has condemned the NBA and Nike for their continued relationships with Brooklyn Nets player Kyrie Irving after he promoted an antisemitic film.
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📰 Hundreds of Gannett staffers stage one-day strike over money |
More than 200 Gannett journalists walked off their jobs Friday as part of a one-day strike demanding better pay and benefits.
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Democracy under attack: Time to condemn political violence
| "[T]rusted elites from both political parties and across society should publicly condemn political violence and discredit Trump's false claims about the 2020 election," writes William S. Becker, co-editor and a contributor to "Democracy Unchained: How to Rebuild Government for the People." |
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