A Twitter massacre Musk plans to lay off 1,000 employees

With US billionaire Elon Musk close to securing funding for the Twitter purchase deal, new information has revealed that the man plans to lay off 1,000 employees once the purchase of the platform is completed. social networking.

He is believed to be laying off many of the company’s employees after the ownership transfer, which will take about six months, Musk told investors this week and seen by The New York Times.

But over the next three years, Musk expects to hire thousands of new employees, leading to a bulge of about 11,000, up from 7,500 today.

Hiring new employees

It is also likely that these new recruits will have many new engineering talents.

Additionally, the company’s numbers will fluctuate, reaching 9,225 employees quest year, before dropping to 8,332 in 2023. Then adding another 2,700 employees by 2025.

Most of the suspended jobs will happen during the acquisition period, according to the New York Times.

At the corporate level, Musk previously pitched the idea of ​​closing the San Francisco office to save money, and even board members may go unpaid, cutting another $ 3 million in expenses.

Increase Twitter revenue

Interestingly, Musk’s changes are part of his plan to boost Twitter’s annual revenue five times current levels to $ 26.4 billion by 2028, up from $ 5 billion last year.

Parag Agrawal, who was named Twitter CEO in November, is expected to remain in the role until the company’s sale to Musk is completed. While CNBC was the first to report today that Musk intends to temporarily become Twitter CEO.

It is reported that Musk, since last month, has been talking about a number of changes in Twitter. Having recently acquired the company, Musk said he wanted to improve the platform and add new elements.

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