Elon Musk Says That He Will Slash 75% Of Twitter Jobs
The latest plot twist in the Elon Musk wants to buy Twitter saga is this report saying that Musk will take a massive axe to the company and get rid of 75% of the people who work there:
Musk told prospective investors in his deal to buy Twitter that he planned to get rid of nearly 75% of the company’s 7,500 workers, according to internal documents and interviews by The Washington Post.
Musk’s deal to buy Twitter for $44 billion is expected close by next Friday in good faith after a months-long legal battle with Twitter.
The Post found that even if Musk does not end up buying Twitter, massive layoffs would still be in the picture for the social media company.
Twitter’s current management reportedly planned to slash the company’s payroll by about $800 million by next year regardless of the deal, which the Post said would mean at least a quarter of Twitter’s workforce would have to depart.
On top of that, with all the turmoil and chaos that Musk creates wherever he goes, I am surprised that Twitter employees haven’t headed to the exits on masse as nobody wants to have this sort of chaos as something that they need to deal with on a daily basis. And for those who are still there and haven’t found employment elsewhere, this might be the last straw that sends them to the exits. It’s clearly not a good situation for Twitter and there are no winners here.
October 29, 2022 at 5:44 pm
[…] Musk said he would do it, and a report from the New York Times says that the job cuts at Twitter have […]
October 31, 2022 at 3:03 pm
[…] Elon Musk said that he would fire 75% of the staff at Twitter. Then backed away from that. Presumably because […]