Twitter Will Reduce Its strength By 75% Ahead Of Elon Musk’s Deal
Twitter Inc will see a mass layoff of nearly 75% of 7,500 workers according to the Washington Post report. The report said that Tesla Chief Elon Musk updated the prospective investors in his deal to buy the social media company about his plans to cut short the company’s employees.
• Elon Musk plans to fire 75% of Twitter employees
• Twitter human resources staff denied any mass layoffs
• The Washington Post reported job cut was planned much before Elon Musk’s deal
What Was The Washington Post Report About Twitter?
According to The Washington Post report, Twitter planned to pare its payroll by about $800 million by the end of next year. And this number shows the departure of nearly a quarter of the workforce. But the human resources staff of the company has assured the employees that the company wasn’t planning for mass layoffs.
The Washington Post report mentioned the documents that show job cut plans were already in place before Elon Musk offered the deal. According to the report, the social media company wanted to reduce staff to cut down on infrastructure costs. Reuters requested Twitter for a comment on the report but Twitter didn’t respond.
What Is The Status Of The Twitter Deal?
Elon Musk tried to walk away from the deal alleging Twitter understated the number of bots and spam accounts on the social media platform. It started a series of lawsuits between the two parties. Finally, Elon Musk reversed the course and decided to go ahead with the deal.