According to reports cited by the New York Times and Washington Post, Elon Musk intends to remove employees from Twitter, and some managers at the social media business have been instructed to compile lists of people to fire.
After months of consideration during which the billionaire questioned the number of users on the platform, Mr. Musk finally gave in as a protracted legal process drew near. Mr. Musk completed his $44 billion acquisition of Twitter on Thursday.
The newspapers said that Mr. Musk, the richest man in the world with 110 million followers on Twitter, had ordered layoffs at the company, which employs around 7,500 people.
Before November 1, when employees are scheduled to get stock grants as part of their remuneration, the firings are most likely to occur.
They said that Mr. Musk would be able to avoid paying the grants to staff, which typically make up a sizable amount of an employee's salary, by firing employees before November 1.
However, Twitter employees are supposed to get cash compensation in lieu of their stock grants under the terms of the company's purchase agreement.
Legal, trust, and safety, which establishes policies and manages content moderation, will probably be one of the first departments to be impacted, and the group in charge of information security and privacy is also compiling a list of employees to fire, according to the Post.
According to a source cited by the Post, Twitter's employment may be reduced by about 50%.
They said that Mr. Musk would be able to avoid paying the grants to staff, which typically make up a sizable amount of an employee's salary, by firing employees before November 1.
According to a source cited by the Post, Twitter's employment may be reduced by about 50%.
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