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Tesla’s CEO Elon Musk plans to lay off 75% Twitter workforce in coming months

Workforce to be reduced in the coming months, no matter who owns the company. It added that Twitter's current management has planned to pare the company's payroll by about $800 million by the end of next year, and this number would mean getting rid of nearly a quarter of the workforce.

By Ruchi Upadhyay 
Updated Date

San Francisco: Tesla company CEO Elon Musk has made a big plan regarding the Twitter deal. After this plan, the job of Twitter employees is under threat. Talking about this deal, he told investors that he can lay off 75 percent of the company’s 7,500 employees. Now after this plan came to the fore, the stir in the company has also intensified. However, Twitter Inc. said about these reports that the company has no plans to lay off.

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Twitter General Counsel Sean Edgett said he had no confirmation of the buyer’s plans. At the same time, he asked not to pay attention to rumors or leaked documents. Actually, the Washington Post has given information about the layoff citing interviews and documents. According to the report, job cuts are expected in the coming months. No matter who is the owner of the company. Twitter’s current management plans to cut the company’s payroll by about $800 million by the end of next year.

The social media company’s HR has told employees that they were not planning large-scale layoffs, but documents showed broad plans to lay off employees and cut infrastructure costs.

Musk said the previous day (October 20) that he is very excited about the Twitter deal. He said that he is very excited about this deal. However, he is paying more for this social media company. Musk has now offered to buy it for $ 54.20 per share, after trying to back out from the first $ 44 billion deal.

Twitter employees’s concerned increased

Also Read :- Twitter owner Elon Musk says difficult process of staff layoffs to begin today

Musk had said that this platform could be very large and it has incredible growth potential. However, now after the plan to lay off their employees came to the fore, the concern of the employees of Twitter has increased. Musk is having a legal dispute regarding the Twitter deal. He has gone back on it before.

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