“Musk fired 75% of his employees when he took over Twitter.”
The Washington Post reported on the 19th that Elon Musk plans to cut 75% of his employees if he takes over Twitter.
Currently, there are about 7,500 Twitter employees. The Washington Post report is that Musk plans to carry out massive layoffs to reduce costs if he takes over Twitter.
Musk agreed in April to buy Twitter for $44 billion ($54.20 per share). However, he later declared the contract to be canceled, blaming the issue of false accounts.
Then, as Twitter filed a lawsuit against the contract, the two sides were about to have a legal battle. The lawsuit between Musk and Twitter was scheduled to begin at Delaware Court on Thursday.
However, the schedule was delayed a little as the court accepted Musk’s request to postpone the trial ahead of the start of the lawsuit.
The Delaware court notified by the 28th that it would enter the trial process if the two sides did not agree on the terms of the negotiations.
Meanwhile, the Washington Post exclusively reported Musk’s plan to reduce Twitter staff.
Twitter executives also reportedly thought that some restructuring was necessary.
According to TechCrunch, even before Musk started the acquisition, Twitter executives had a plan to reduce their workforce by about a quarter. Twitter’s original plan was to save about $800 million in labor costs through this.
However, Musk is known to have a much more intense restructuring plan than Twitter executives think, which is expected to cause considerable labor.