A new report has emerged, as Elon Musk has told his Twitter investors that he plans to cut off nearly three-quarters of the workforce.
This means that thousands of employees working for the social media giant would be unemployed soon. Although, Twitter has denied planning to fire a large workforce.
The Washington Post reported Elon Musk told investors about his plans to gut Twitter’s workforce, and that he planned to get rid of nearly 75 percent of Twitter’s 7,500 workers.
In recent weeks, Musk has been clamoring for help to secure a Twitter deal and take it under his business wing, but no one can confirm if the deal went through.
According to the report, Twitter’s current management had planned to reduce the payroll by about $800 million by the end of next year – a number the Post said would mean the departure of nearly a quarter of the workforce.
Nobody knows if lack of funds is the problem but Twitter also plans to make major cuts to its infrastructure, including data centers that keep the site functioning.
How they intend to still keep more than 200 million users logging in daily without the data centers remains a mystery.
Twitter and Musk are expected to close the purchase by next Friday 28 October 2022.
Musk has until then to secure the necessary funding, or faces the risk of paying a $1 billion penalty clause.
The future is uncertain for most Twitter employees and many of them have quit their jobs, as they are not sure they can thrive under Elon.
