Elon Musk's Twitter Layoffs Spark Chaos and Impact Dogecoin

The Layoffs and Their Aftermath

Elon Musk's takeover of Twitter has led to widespread layoffs, with approximately 3,700 employees cut from the company. Staff members were abruptly locked out of their workspaces, including Slack and email, as the purge began. The layoffs are expected to continue, with additional cuts anticipated by Saturday. Employees who receive emails in their personal accounts will be notified of their termination, while survivors will regain access to company systems.

Impact on Dogecoin and Crypto Projects

The chaos has also affected the crypto world, particularly Dogecoin (DOGE). The meme currency, which had surged following Musk's acquisition, dropped 10% after the layoff news. Despite this, DOGE has shown resilience, recovering some of its losses. The Twitter Crypto Wallet project, which aimed to integrate DOGE and other cryptocurrencies, has been put on hold, potentially slowing crypto adoption efforts.

Legal and Operational Challenges

The layoffs have raised legal concerns in California, where state law requires a 60-day notice period for such actions. Additionally, employees were sent home early, with building access restricted. The remaining staff faces tight deadlines, particularly for the Twitter Blue verification service, which is set to launch soon.

A Turbulent Future for Twitter

As Musk reshapes the company, the focus remains on critical projects, with non-essential initiatives paused. The rapid changes have created uncertainty for both employees and users, while the crypto community watches closely as Twitter's potential to drive adoption hangs in the balance.