According to the “New York Times” report, Elon Musk ordered company-wide layoffs on Twitter on Saturday. It is unclear how many workers will be affected by the so-called layoffs, but sources told The New York Times that some sectors will be affected more than others.
Previous reports said Elon Musk wanted to reduce Twitter’s headcount by 75%. However, according to Bloomberg News, on Wednesday, local time, Elon Musk told Twitter employees that he did not plan to lay off 75% of the staff after taking over Twitter, according to people familiar with the matter.
Twitter currently has about 7,500 employees, and the New York Times noted that some managers have been asked to provide lists of departing employees.
Reports that layoffs may occur before November 1st, employees are expected to receive their stock grants on the same day, and this stock grant “generally accounts for a significant portion of their salary.” According to The New York Times, Elon Musk may not have to pay the money if he fires employees before that date. Twitter did not immediately respond to a request for comment.
Elon Musk completed his $44 billion takeover of Twitter on Friday and fired numerous executives including former CEO Parag Agrawal, CFO Ned Segal and policy chief Vijaya Gadde after taking ownership.
It’s not entirely clear what Elon Musk plans to do with Twitter after the dust settles, but he recently said he wants the site to be a “common digital town square where beliefs of all kinds can be discussed in a healthy way without resorting to recourse.” Violence.” He calls himself a “free speech absolutist,” freeing users from worrying about the future of content moderation on the platform, but says he won’t make it a “free hellscape” and plans to create a content moderation committee.
