Elon Musk asks Twitter managers to prepare list of people to be laid off: Report
Elon Musk has planned to begin laying off employees at Twitter, according to a media report, days after he completed the USD 44-billion acquisition of the social media company. CEO Parag Agrawal, legal executive Vijaya Gadde, Chief Financial Officer Ned Segal and General Counsel Sean Edgett were ousted as Musk's acquisition was completed.
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FollowDays after completing the $44 billion acquisition of the social media business, Elon Musk reportedly had plans to start firing workers at Twitter. According to the New York Times, Musk "intended to start laying off employees" at Twitter as early as this Saturday.
According to the report, some managers were being asked to "draw up lists of staff to cut," according to persons with knowledge of the situation. Before Musk bought Twitter, there were rumours that he would reduce staffing, with some predicting up to 75% of the company's employees may lose their jobs.
According to a report in the New York Times, "Musk, who completed a USD 44 billion deal to buy Twitter on Thursday, has ordered the cuts across the company, with some teams to be trimmed more than others." The report also stated that the "scale of the layoffs could not be determined" at the company, which employs about 7,500 people.
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The layoffs at Twitter "would take place before" the date of November 1, when "workers were slated to receive stock awards as part of their remuneration," according to the media reports.
Musk has pledged to "take Twitter private, cut its workforce, pull back its content moderation policies, and discover new income streams" in a letter to investors.
According to Musk, the social media business would establish a "content moderation council," and major content judgments or account reinstatements won't take place until the group meets.
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"A content moderation committee with a wide range of perspectives will be created by Twitter. Before that council meets, no significant content decisions or account reinstatements will be made," Musk tweeted, a day after completing the USD 44 billion acquisition of the social network firm.
As Musk's acquisition was finalised, the CEO Parag Agrawal, legal executive Vijaya Gadde, chief financial officer Ned Segal, and general counsel Sean Edgett were fired.
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(With PTI inputs)
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