WASHINGTON: One of the wealthiest person in the world with an estimated net worth of around $238 billion, Elon Musk plans to lay off nearly 75 percent of Twitter workforce if he becomes the owner of one of the most popular social media company.
According to western media reports, Musk told prospective investors in his Twitter purchase that he plans to cut nearly 75% of Twitter’s employee base of 7,500 workers, leaving the company with a skeleton crew, according to the report. The newspaper cited documents and unnamed sources familiar with the deliberations.
It is worth mentioning that Musk had previously gestured at plans for layoffs if he were to buy Twitter, but those cuts could go even deeper than previously imagined.
Reports suggested that Twitter already planned to cut around a quarter of its workforce — but leaving a quarter of the workforce is a different situation altogether.
With plans to close $44 billion acquisition of Twitter by next Friday, Elon Musk was reported to be actively considering to reduce the headcount of Twitter’s 7,500 employees down to just over 2,000 in the coming months.
