Layoffs are still expected under Musk, but they may not be as devastating as previously reported.
Elon Musk posted a video of himself carrying a kitchen sink into Twitter’s San Francisco headquarters. “Let that sink in,” he wrote. He may have also spoken with employees and denied reports that he intends to fire the majority of them once he officially takes over as company owner, possibly on Friday. According to Bloomberg, he told Twitter employees that he does not intend to lay off 75% of the company’s 7,500 employees, as previously reported by The Washington Post.
- The Twitter-Elon Musk $44 billion takeover trial is still on schedule and will begin on October 17, according to a US judge.
- The Twitter-Elon Musk $44 billion takeover trial is still on schedule and will begin on October 17, according to a US judge.
Musk is still expected to order layoffs. During a Twitter Town Hall meeting in June, he said he didn’t know why low-performing workers should remain employed. But job cuts were going to happen even if Musk completely backed out of purchasing the website anyway. Based on internal documents obtained by The Post, current company leadership was planning a 25 percent workforce reduction, which translates to 1,900 people losing their jobs. Executives were also planning major infrastructure cuts and data center closures.
Musk’s Twitter purchase is on track to close by Friday, but it was in limbo for a long while. The executive had wanted to back out of his $44 billion purchase, accusing the company of withholding data that would give him a clearer picture of how many bots and fake accounts are on the website. Twitter, in turn, sued Musk and accused him of wrongfully breaking the agreement. Earlier this month, though, Musk decided to go ahead with the deal, and Twitter agreed with his proposal before their case could go to trial.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
