Twitter Inc clarified to staff that there are no plans for company-wide layoffs since it signed a deal to be acquired by billionaire Elon Musk after a media outlet reported that Musk is considering layoffs at the company. According to a source who viewed the email, Twitter General Counsel Sean Edgett emailed employees saying the company does not plan layoffs. So, What Did Twitter Confirm to Employees?
Elon Musk told prospective investors in his deal to buy Twitter that he planned to get rid of nearly 75% of the company’s 7,500 workers, citing interviews and documents. Job cuts are expected in the coming months, no matter who owns the company. The report said that Twitter’s current management planned to pare the company’s payroll by about $800 million by the end of 2023, which would mean the departure of nearly a quarter of the workforce. Twitter did not immediately respond to a Reuters request for comment.
Human resources staff at the social media company have told employees that they were not planning for mass layoffs, but documents showed extensive plans to push out staff and cut down on infrastructure costs were already in place before Musk offered to buy the company. Mr. Musk had tried to walk away from the deal to buy Twitter in May, alleging the company understated the number of bot and spam accounts on the social media platform, which started a series of lawsuits between the two parties.
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