In case of purchase Twitter by Elon Musk, he plans to lay off 75% of employees, leaving only two thousand employees who will form the backbone of the team.
This is reported by The Washington Post with reference to its own sources.
According to their data, the billionaire told potential investors of the deal with Twitter that he plans to lay off almost 75% of the companyʼs staff (or about 5 500 employees) in order to reduce the companyʼs staff.
Even before Muskʼs offer, Twitterʼs management had intended to cut nearly a quarter of its workforce, cutting $800 million in payroll. However, the reductions planned by the businessman are "unthinkable", because the social network may be subject to more hacker attacks.
Musk has until October 28 to complete the purchase of Twitter. Due to the fact that the deal is still not closed, the company has frozen the payment of bonuses to its employees. At the same time, the publicationʼs sources report that the deal is progressing according to plan.
- On April 5, 2022, Elon Musk bought a 9.2% stake in Twitter, after which the company offered him a seat on the board of directors. Musk refused and on April 14 offered to buy Twitter for $44 billion, but delays began in this matter. Mask failed to verify information about fake accounts.
- In May, Musk suggested postponing the deal to buy the Twitter social network, explaining that a new world war could start due to Russiaʼs invasion of Ukraine.
- On July 8, he said he was refusing to buy the company, and accused Twitter of breaching the deal — because of "false data about the number of fake accounts on the platform."
- Twitter filed a lawsuit over the legality of the businessmanʼs refusal to buy it for $44 billion. Elon Musk filed a counterclaim on July 29. On August 7, Elon Musk called the chief executive officer of Twitter Inc. Parag Agrawal to a public debate. "Let him prove to the public that Twitter has <5% fake or spammy users every day," Musk wrote.