Elon Musk reportedly intends to fire 75% of Twitter employees

October 21, 2022 By Monica Green

(Image Credit Google)

Elon Musk may fire the bulk of Twitter employees after he completes his acquisition of the social media business, according to a report published first on Thursday, October 20 by the Washington Post and AP. The story claims that Musk has told prospective investors in his purchase of Twitter that he plans to fire roughly 75% of the 7,500 employees, leaving the company with a skeleton crew. The Washington Post article made reference to documents and unnamed people who were familiar with the discussions. It is important to note that neither Twitter nor Musk's lawyer Alex Spiro has yet replied to the allegations made in the piece. Elon Musk received a request from China not to market Starlink there

Elon Musk received a request from China not to market Starlink there

A 75% employee reduction would signal, at least initially, stronger free cash flow and profitability, which would be tempting to investors eager to participate in the sale, claims Wedbush analyst Dan Ives. Ives said that the social media business would probably lag behind by years if it made this kind of workforce reduction. Even while it was expected that there would be job cuts after the sale, Musk's suggestion will be much more radical than what Twitter had in mind. Musk has previously said that the company may need to downsize its employment, but, at least publicly, he hasn't given a specific figure.

By Monica Green

I am specialised in latest tech and tech discoveries.

Elon Musk reportedly intends to fire 75% of Twitter employees

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