Elon Musk reportedly told investors that he intended to lay off nearly 75% of Twitter’s 7,500 employees

October 21, 2022

Share via:

Elon Musk is rumoured to be planning a massive layoff at Twitter. According to internal documents and interviews with The Washington Post, Musk told prospective investors in his deal to buy Twitter that he planned to lay off nearly 75% of the company’s 7,500 employees.

Musk’s deal to buy Twitter for $44 billion is expected to close in good faith next Friday, following a months-long legal battle with Twitter. The Post discovered that even if Musk does not buy Twitter, massive layoffs are still possible for the social media company. Twitter’s current management reportedly planned to cut the company’s payroll by about $800 million regardless of the deal, which the Post said would require at least a quarter of the company’s workforce to leave.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

Uber launched an advertising division to display advertisements during rides

Next News

ED freezes Bitcoins worth Rs 7.12 crore in E-nuggets gaming app case

Editorial Team

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.