As Elon Musk’s impending takeover of the firm sparks concerns about a seismic makeover of the social media service, Twitter is attempting to allay staff anxiety, but its assurances may only go so far.
The $44 billion purchase of Twitter by Musk has agitated the 7,500 employees of the company for months as the billionaire has made claims about how he will improve the service and then tried to back out of the transaction. Unrest within the company has increased now that his takeover is back on track and will likely close by next Friday.
The Washington Post’s Thursday claim that Musk intended to reduce Twitter’s personnel by as much as 75% in the coming months, to just over 2,000 people, fueled employees’ anxieties. Five employees who spoke on condition of anonymity said they were concerned about how their pay may change after Musk turns the company from a publicly traded corporation into a private one.
Late on Thursday, Twitter made an effort to allay some of the worries. Sean Edgett, the general counsel, stated there were no intentions for layoffs in a memo to the staff following the reports of job losses.
He wrote: “We do not have any confirmation of the buyer’s plans for the period after close and advised not following rumors or leaked documents but rather waiting for information from us and the buyer directly. Bloomberg first reported on the memo.
