Elon Musk reportedly wants to fire most of Twitter’s employees
by Elizabeth Lopatto from The Verge - All Posts on (#64YZX)
YIKES About 7,500 people currently work at Twitter - and 75 percent of them can expect to be shown the door, The Washington Post reports. Elon Musk, who is acquiring the company, has been telling prospective investors that he plans drastic firings to bring down costs.
Musk has a deadline to close the purchase of Twitter by October 28th. In a sign the deal is proceeding, Twitter froze its employees' equity awards, Bloomberg reported. Anonymous sources tell The Post that the deal is moving forward in good faith.
Job cuts were planned anyway. Before Musk's bid, Twitter management planned to slice almost a quarter of the workforce, chopping $800 million from payroll. Musk's planned cuts, which are larger, are unimaginable," the former head of...