San Francisco: Elon Musk is planning to cut about 3,700 jobs at Twitter Inc of half of the company’s workforce in a bid to cut costs, Bloomberg News reported on Wednesday, citing people familiar with the matter. Musk also intends to reverse the company’s existing work-from-anywhere policy, asking remaining employees to report to offices, though some exceptions could be made. Twitter’s new owner will inform the staff affected on Friday, according to the report.Also Read – Twitter Won’t Allow Anyone Back On Platform Without Diligent Process, Says Elon Musk
Earlier, after taking control of Twitter, he fired top executives of the company. He fired Twitter Chief Executive Parag Agrawal, Finance Chief Ned Segal and Legal Affairs and Policy Chief Vijaya Gadde. Also Read – Get Twitter Blue Tick For Free! Did You Receive Such Message Or Email?
Musk and a team of advisers have been weighing a range of scenarios for job cuts and other policy changes at San Francisco-based Twitter, the people said, adding that the terms of the headcount reduction could still change. In one scenario being considered, laid off workers will be offered 60 days’ worth of severance pay, two of the people said. Also Read – Work For 12 Hrs, 7 Days A Week Or Get Fired: Elon Musk’s New ‘Make-or-Break’ Rule For Twitter Employees
Twitter did not immediately respond to a Reuters request for comment.
Reuters had reported earlier this week, citing sources that Musk plans to cut a quarter of Twitter’s workforce as part of a first round of layoffs at his recently acquired company.
As per reports, Musk told investors that he ‘would take Twitter private, reduce its work force, roll back its content moderation rules and find new revenue streams’.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
