Elon Musk intends to fire 75% of Twitter employees if he takes over the company

Elon Musk has told potential investors that he plans to get rid of nearly 75% of Twitter’s staff as part of his deal to take over the social media company. The Washington Post said Thursday

Regardless of who owns the company, the report based on interviews and documents says job cuts are likely in the coming months.

If Musk does end up taking over the business, news of his plans comes at a bad time for Twitter. In July, the company said it had already “significantly reduced hiring” because of the broader economic downturn and because many tech companies had recently announced hiring freezes and layoffs.

Bloomberg said late Thursday that an internal Twitter memo said there were no plans for company-wide layoffs.

Meanwhile, the takeover drama with Elon Musk has led to low morale, prompting the resignation of many employees. Musk tried to back out of the $44 billion acquisition deal with Twitter, but changed his mind earlier this month, saying he would still follow it. This has caused Twitter and Musk to fight in court for months.

Carl Tobias, who holds the Williams Professorship of Law at the University of Richmond, said: “Twitter seems to be directionless and in some sort of downward spiral. Musk has only made it worse.” “It looks like things are going to get rough for a while.”

Human resources staff at the social media company told employees they weren’t planning to lay off many people, but the documents showed that many plans to shed staff and cut infrastructure costs were already in place before Musk offered to take over. buy the company. company, the Washington Post said.

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But Twitter’s current management had planned to lay off 25% of the staff by the end of next year. A new report shows that Musk wants to reduce Twitter’s 7,500 employees to a “core staff” of about 2,000 people.

Tobias said the layoffs will affect Twitter’s day-to-day operations, such as its ability to remove harmful content and deal with security issues. This comes after a scathing whistleblower report in September said Twitter was failing on both counts and was “egregiously” flawed.

According to a Washington Post report, Twitter had already planned to cut money from infrastructure sites like its data centers. Musk has said that if he owned Twitter, he would relax the rules on how content is moderated and could shift the company to a subscription-based business model. When The Guardian asked Twitter for a comment, Twitter did not immediately respond.

Musk and Twitter have been feuding since May when Musk tried to back out of a deal to buy the company. He said that Twitter had lied about how many spam accounts and bots were on its platform. Twitter said he was “making up” a reason to back out.

Before Musk made a sudden U-turn in early October and said he would go through with the deal on its original terms, the fight was set to go to court. The billionaire is now trying to get the money he needs to close the deal next Friday, which is when a judge said the deal must be closed.

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Source: vtt.edu.vn

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