Elon Musk Has Reportedly Ordered Job Cuts at Twitter

Elon Musk vs Twitter

Elon Musk is wasting no time as the new owner of Twitter and has ordered wide layoffs, which will begin before November 1st, The New York Times reports.

Twitter currently has about 7,500 employees, and previous reports indicated Musk was prepared to lay off as much as 75 per cent of the workforce. According to the NYT, managers were told by Elon Musk to draw up lists of employees to be relieved of their duty. It is unclear how many employees will lose their job now.

Musk wants the job cuts to happen before November 1st to avoid paying employee stock grants which is a “significant portion” of their pay. The NYT understands Musk may not have to pay the stock grants if employees are laid off before November 1st.

Musk completed his $44 billion acquisition of Twitter on Friday after months of legal battle with the company. On account reinstatements and content decisions, Musk tweeted that no major decision will be made until Twitter forms a content moderation council.

Image: SUZANNE CORDEIRO via Getty Images

Posted by Biodun

Passionate about Technology and everything concerning it. Avid Gamer and Music Lover. Loves Chelsea FC. Overall, a nice guy. Find me on Instagram and Twitter.

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