The majority of Twitter’s workers will be laid off by Elon Musk if and when he acquires the social media business, the Washington Post reported on Thursday.
According to the story, Musk has informed potential investors in his purchase of Twitter that he intends to lay off approximately 75% of the company’s 7,500 employees, leaving it with a skeleton staff. Documents and unidentified persons familiar with the discussions were mentioned by the newspaper.
based in San Francisco Requests for comment from Twitter and Alex Spiro, an attorney for Musk, were not immediately answered.
Even while job cutbacks were anticipated regardless of the sale, Musk’s proposed ones will be much more severe than anything Twitter had in mind. Musk has previously hinted at the necessity to reduce the company’s workforce, but he hasn’t specified a number, at least not in public.
According to Wedbush analyst Dan Ives, a 75% personnel reduction would suggest, at least initially, higher free cash flow and profitability, which would be appealing to investors eager to get in on the sale. That stated, progress cannot be achieved by cutting corners.
