No plans for layoffs: Twitter to employees after Elon Musk's job cut remarks

By Team Newsable | First Published Oct 21, 2022, 9:34 AM IST

Earlier on Thursday, the Washington Post reported that Elon Musk told prospective investors in his deal to buy Twitter that he planned to lay off nearly 75 per cent of the company's 7,500 employees, citing interviews and documents.

Twitter Inc clarified to employees on Thursday that there are no plans for company-wide layoffs since signing a deal to be acquired by billionaire Elon Musk, following reports that Musk is considering layoffs at the company.

Following a source who saw the email, Twitter General Counsel Sean Edgett emailed employees on Thursday, saying the company has no plans for layoffs.

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According to the Washington Post, job cuts are expected in the coming months regardless of who owns the company.

According to the report, Twitter's current management planned to reduce the company's payroll by about $800 million by the end of next year, implying the departure of nearly a quarter of the workforce.

Human resources staff at the social media company told employees that no mass layoffs were planned, but documents revealed that extensive plans to push out staff and cut infrastructure costs were already in place before Musk offered to buy the company, according to the Washington Post.

Musk attempted to back out on the purchase of Twitter in May, claiming that the company understated the number of bot and spam accounts on the social media platform, sparking a series of lawsuits between the two parties.

Musk reversed course earlier this month, saying he would proceed with the deal on the original terms.

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