Twitter may ‘halve its workforce’ as key investor backs job cuts

Reports suggest new owner Elon Musk aims to lose 3,800 roles of 7,500 staff with workers to be told as soon as Friday

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A leading Twitter investor has backed job cuts at the company, amid reports that new owner Elon Musk could cut about half the 7,500-strong workforce.

Changpeng Zhao, the chief executive and founder of Binance, said a slimmer workforce would make more sense" at the social media platform. The cryptocurrency exchange has invested $500m (441m) in Twitter as part of Musk's $44bn takeover, which completed last week and has been followed by a stream of changes and mooted overhauls of the company ever since.