Elon Musk To Cut Half Of Twitter’s Workforce: Report
Twitter Boss Elon Musk is likely to eliminate half of the micro-blogging platform’s workforce to cut costs and more details on how many people might be impacted have started to emerge, a media report said.
Musk met his advisors, including former PayPal executive David Sacks, to finalize a plan to fire about 3,800 workers, the Verge quoted its deputy editor Alex Heath as saying in the report.
According to an earlier report, Musk was planning to cut 3,700 employees and the impacted people could receive 60 days of compensation.
Additionally, he intends to remove Twitter’s “forever” work-from-home policy, it added.
Earlier, it was reported that Twitter layoffs would hit roughly a quarter of the staff, which would heavily impact teams including sales, product, engineering, legal, and trust and safety.
Meanwhile, Musk has also dissolved Twitter’s board of directors after his takeover, according to a US Securities and Exchange Commission (SEC) filing.
Following this, the Tesla CEO, according to the filing, became “the sole director of Twitter”.
It confirmed that instead of joining Twitter’s board of directors, Musk became their sole replacement.
Musk took over as the Twitter boss last week. He has fired Indian-origin CEO Parag Agrawal, Chief Financial Officer Ned Segal, and the company’s policy chief Vijaya Gadde, among others.