The Washington Post reported that billionaire Elon Musk plans to lay off about 75% of Twitter’s employees after the company’s purchase is completed.
The newspaper, citing its sources and on the basis of the documents it studied, indicated that it was about reducing the number of Twitter employees from the current 7,500 people to about two thousand people from the main personnel alone.
And the paper pointed out that Twitter is facing a large percentage of its workforce being cut even if Elon Musk hadn’t acquired it, as the company’s management was cutting payroll spending by about $800 million by the end of next year, requiring about a quarter of its employees to be fired.
According to the publication, Twitter plans to reduce its infrastructure, especially data centers.
The newspaper report indicates that the need to reduce a significant proportion of staff is one of the reasons for the desire of the leadership of Twitter to buy Elon Musk’s company.
Notably, talk of finalizing Elon Musk’s purchase for Twitter has resumed this month after a months-long stalemate. According to the Washington Post, it is scheduled to be completed by October 28.
Source: Washington Post.