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Elon Musk, one week into his $44 billion takeover of Twitter, is gearing as much as massively slash the corporate’s workforce to chop prices, in keeping with a brand new report.
The mega-billionaire is planning to put of three,700 Twitter workers, or about half of the present workforce of roughly 7,500, Bloomberg reported Wednesday, citing nameless sources.
Reps for Twitter didn’t reply to a request for remark.
Musk plans to tell Twitter staffers of the foremost layoffs on Friday, Nov. 4, per the Bloomberg report. As well as, he’ll announce an finish to the corporate’s everlasting work-from-home coverage, instituted two years in the past at first of the COVID pandemic, and require workers to come back into Twitter’s workplaces with some exceptions, in keeping with the report.
Final week, forward of the deal’s official Oct. 27 shut, Musk instructed Twitter workers that he didn’t plan to chop 75% of the corporate’s workforce, Bloomberg beforehand reported. Washington Put up eerlier this month reported that Musk beforehand instructed potential buyers within the Twitter deal that he deliberate to put off practically three-fourths of Twitter’s employees, or about 5,500 workers.
The job cuts would proceed the fast transformation of Twitter below Musk after taking his favourite social community non-public. The tech mogul instantly fired senior execs after the deal closed, together with CEO Parag Agrawal, and Musk assumed the function of CEO and dissolved the corporate’s board of administrators.
“Twitter is solely essentially the most fascinating place on the web,” Musk tweeted Wednesday. “That’s why you’re studying this tweet proper now.”
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