Elon Musk shared plans to downsize Twitter workforce significantly Report Big Tech - Spacex HEAD TOPICS

Elon Musk shared plans to downsize Twitter workforce significantly Report

10/21/2022 6:06:00 AM

@ElonMusk shared plans to downsize @Twitter workforce significantly Report

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Washington Examiner

.ElonMusk shared plans to downsize Twitter workforce significantly: Report Elon Musk has reportedly told prospective investors he wants to cut Twitter 's workforce significantly by nearly 75% once he owns the social media giant. MUSK SAYS HE IS 'OBVIOUSLY OVERPAYING' FOR TWITTER IN $44B ACQUISITIONMusk shared the plans as part of a pitch to get investors to help finance his $44 billion takeover of the company, which he has reportedly had trouble funding.Big changes are likely to be in store for Twitter as Musk focuses on free speech, with many employees already jumping ship from the social media platform, worrying about the changes coming to the company. Musk said in an Oct. 4 letter that he plans on going through with the deal once he receives the financing, a reversal from when he backed out of the agreement earlier in the year. Days later, a judge halted the trial in a lawsuit by Twitter to give the deal a chance to go through. Read more:
Washington Examiner » Elon Musk Plans to Lay Off Nearly 75% of Twitter Employees, or 5,500 Staffers (Report) Elon Musk reportedly cutting 75% of Twitter's workforce after buyout Elon Musk May Gut 75% Of Twitter Workforce – Report Elon Musk plans to lay off 75% of Twitter’s staff, report Digital Trends

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With the electric vehicle market heating up, CNN's Peter Valdes-Dapena joins 'Nightcap's' Jon Sarlin to talk how Elon Musk can keep Tesla at the top. Plus, The New York Times' Lauren Hirsch on how the proposed Kroger-Albertsons could affect your grocery bill. And does Kanye West know what he's getting with his proposed purchase of Parler? The Verge's Makena Kelly on Ye's Parler trick. To get the day's business headlines sent directly to your inbox, sign up for the Nightcap newsletter. Read more >> Elon Musk Plans to Lay Off Nearly 75% of Twitter Employees, or 5,500 Staffers (Report)Elon Musk could be set to slash Twitter ’s headcount drastically once his $44 billion deal for the social network goes through. The mega-billionaire has told potential investors in the Twitter … How is this not a sign to the investors that they should pull their money? A true man of the people…. It’s been real Twitter! Elon Musk reportedly cutting 75% of Twitter's workforce after buyoutBillionaire Elon Musk reportedly planning to slash about 75 percent of Twitter 's staff, in a major transformation of the tech giant after $44B buyout Elon Musk May Gut 75% Of Twitter Workforce – ReportElon Musk told prospective investors in Twitter that he planned to eliminate about 75% of the social media platform’s 7,500-strong workforce. Such a move would leave Twitter with about 2,000 staffe… Just another 'job creator' laying off thousands. you mean, you cant spend 6 months publicly insulting your new boss? Elon Musk plans to lay off 75% of Twitter’s staff, report Digital TrendsIf ElonMusk finally gets his hands on Twitter in the next week, a new report suggests he could lay off up to 75% of the workforce. Report: Elon Musk plans to cut 75% of Twitter workforceElon Musk plans to lay off most of Twitter ’s workforce if and when he becomes owner of the social media company, according to a report Thursday by The Washington Post. Report: Elon Musk plans to cut 75% of Twitter workforceSAN FRANCISCO (AP) — Elon Musk plans to lay off most of Twitter ’s workforce if and when he becomes owner of the social media company, according to a report Thursday by The Washington Post . The billionaire mogul is looking to reduce the workforce from 7,500 workers to only around 2,000 workers, according to documents and interviews obtained by the Washington Post.Twitter ’s headcount drastically once his $44 billion deal for the social network goes through.Job cuts are expected in the coming months, no matter who owns Twitter, according to the report.. MUSK SAYS HE IS 'OBVIOUSLY OVERPAYING' FOR TWITTER IN $44B ACQUISITION Musk shared the plans as part of a pitch to get investors to help finance his $44 billion takeover of the company, which he has reportedly had trouble funding. Big changes are likely to be in store for Twitter as Musk focuses on free speech, with many employees already jumping ship from the social media platform, worrying about the changes coming to the company. Reps for Twitter and Musk did not immediately respond to a request for comment. Musk said in an Oct. Job cuts are expected in the coming months, no matter who owns the company, according to the report. 4 letter that he plans on going through with the deal once he receives the financing, a reversal from when he backed out of the agreement earlier in the year. Earlier this month he agreed to go forward with his original $54. Days later, a judge halted the trial in a lawsuit by Twitter to give the deal a chance to go through. “I’m excited by the Twitter situation,” he said yesterday in one of of the first positive comments about the purchase in many months. CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER Twitter and Musk have until Oct. “Although, obviously, myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter in my view is an order of magnitude greater than its current value,” Musk said. READ MORE:  Musk offers to close Twitter buyout at $44B Buying Twitter Human resources staff at the social media company have told employees that they were not planning for mass layoffs, but documents showed extensive plans to push out staff and cut down on infrastructure costs were already in place before Musk offered to buy the company, the Post  reported. 28 to finalize the details of the deal for the takeover or risk having to return to court. The report on Musk's stated plans said Twitter did not respond to a request for comment. As such, Musk’s $44 billion acquisition is a “golden ticket for the struggling company,” according to the Post article, “potentially helping its leadership avoid painful announcements that would have demoralized the staff and possibly crippled the service’s ability to combat misinformation, hate speech and spam. . Earlier this month, Musk reversed course and said he will proceed with the deal on the original terms.