Elon Musk will be cleaning out his house once he has Twitter’s keys.
A WaPo Report reveals that SpaceX, Tesla and the soon-to be Twitter billionaire Elon Musk are planning to make drastic cuts to their staff. More than 75% of the current employees at the social media giant, will receive their walking papers.
WaPo reported that Elon Musk had told potential investors during his deal to purchase the company that he would get rid of almost 75 percent of Twitter’s 7,500 employees, and whittle the company down to just over 2000 employees.
From The Washington Post
Even if Musk’s Twitter deal fails — and there is little evidence that it will — large cuts are expected. According to company documents and interviews with people who were familiar with its deliberations, the current management of Twitter planned to reduce the company’s payroll by $800 million by next year. This would result in the departure of almost a quarter the workforce. It also proposed to make significant cuts to its infrastructure, including the data centers that provide site access for over 200 million users who log on daily.
Can Musk make Twitter a success? We will soon find out.
Read more at The Washington Post:
SCOOP: Elon Musk informed investors that he would cut 75% off Twitter’s workforce. This will leave the company with a staff of just 2,000. Peter Thiel, Reid Hoffman also passed the Twitter deal. Via me @faizsays @GerritD @jeremybmerrill https://t.co/epoiv3pArV
— Elizabeth Dwoskin (@lizzadwoskin) October 20, 2022
