WASHINGTON: Billionaire Elon Musk told potential investors in his deal to buy Twitter Inc. that he plans to get rid of about 75% of the social media company's 7,500 employees, The Washington Post reported Thursday, citing interviews and documents. Told happened.
According to the report, job cuts are expected in the coming months, irrespective of the owner of the company.
Twitter's current management plans to cut the company's payroll by about $800 million by the end of next year, the report said.
Human resources employees at the social media company have told employees they were not planning mass layoffs, but documents showed broad plans to lay off employees and cut infrastructure costs, before Musk announced The company offered to buy The Washington Post. informed of.
Twitter did not immediately respond to a Reuters request for comment.
Musk tried to walk away from the deal to buy Twitter in May, accusing the company of reducing the number of bots and spam accounts on the social media platform, which triggered a series of lawsuits between the two parties.
Earlier this month, Musk reversed his stance and said he would pursue the deal on original terms.
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