Sunday, September 24, 2023

Elon Musk plans to lay off 75% of workforce if he takes over Twitter: Report

World’s richest person Elon Musk has told prospective investors that he intends to lay off nearly 75% of Twitter’s 7,500-member workforce, Washington Post reported citing documents.

While pitching his Twitter purchase deal to prospective investors, Musk said that he plans to cut nearly 75% of Twitter’s workforce, leaving the company with just over 2,000 employees, the report said.

The report said that Twitter’s current management planned to cut almost a quarter of the workforce, paring $800 million from company’s payroll.

While Musk has not bought Twitter till now, talks are on as he recently said again that he is willing to buy the social media giant on the original terms.

The deal, which is now to back on track after months of Musk sowing chaos, is expected to close by October 28.

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