Elon Musk

Elon Musk to fire 75 percent of Twitter’s staff after coy acquisition: Report

*The sense of gloom that has pervaded Twitter offices ever since Tesla and SpaceX Chief Executive Elon Musk announced his intention to acquire the global tech giant is reportedly palpable now

Gbenga Kayode | ConsumerConnect

Acknowledging that Twitter may actually become accurate, relevant news source, American billionaire businessman Elon Musk plans to sack 75 percent of Twitter’s staff, once he takes over the global technology giant and microblogging site.

It was gathered that the sense of gloom that has pervaded Twitter offices ever since Tesla and SpaceX Chief Executive  announced his intention to acquire the leading social media platform is now palpable.

Several personnel of the company have already left, citing Musk’s actions and public pronouncements for their departure, reports The Washington Post.

Musk reportedly told prospective investors who may back his Twitter purchase, that he plans to cut almost 75 percent of Twitter’s employee base of 7,500 workers, leaving the company with a skeleton crew.

The report, published  Thursday, October 20, 2022, cited documents and unnamed sources familiar with the deliberations.

Twitter denies layoff plans

Reacting to the reported plan layoff of staff of the tech giant, Twitter has issued a clarification to employees after the report came out.

The company stated that there are no plans for company-wide layoffs.

Twitter General Counsel Sean Edgett e-mailed employees Thursday, and  said the company yet does not plan to issue pink slips.

In terms of potential challenges in acquiring the firm, the world’s richest man himself had previously spoken about paring Twitter’s workforce. However, rumours about job cuts at Twitter have been making the rounds for a while now, even separate from Musk’s $44 billion buyout deal.

With as drastic a reduction as Musk may be planning, the platform could quickly become overrun with harmful content and spam — the latter of which the Tesla CEO himself has said he’ll address if he becomes the owner of the company.

Meanwhile, Musk remains ‘excited’ to become the new Twitter boss, even though he feels like he is spending too much on the social media platform, according to report.

He noted even amid the drama, while fielding questions on a Tesla quarterly earnings call Wednesday, that “I’m excited about the Twitter situation.

“I think it’s an asset that has just sort of languished for a long time but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now.”

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