Elon Musk said to begin laying off employees at Twitter: Report
The Hindu
Ahead of Elon Musk’s acquisition of Twitter, reports were circulating that he will cut headcount, with some reports saying 75% of the workforce at the company could be laid off
Elon Musk has planned to begin laying off employees at Twitter, according to a media report, days after he completed the $44-billion acquisition of the social media company.
The New York Times reported that Mr. Musk “planned to begin laying off workers” at Twitter as soon as on Saturday.
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Citing people with knowledge of the situation, the report said that some managers were being asked to "draw up lists of employees to cut.”
Ahead of Mr. Musk’s acquisition of Twitter, reports were circulating that he will cut headcount, with some reports saying 75% of the workforce at the company could be laid off.
“[Mr.] Musk, who completed a $44-billion deal to buy Twitter on Thursday, has ordered the cuts across the company, with some teams to be trimmed more than others,” the NYT report said, adding that the “scale of the layoffs could not be determined” at the company, which has around 7,500 employees.
The NYT report said that the layoffs at Twitter “would take place before” the November 1 date when “employees were scheduled to receive stock grants as part of their compensation.