New Delhi: Twitter Inc clarified to employees on Thursday that it has no plans for company-wide layoffs as it signed a deal to be acquired by billionaire Elon Musk, a media outlet reported after a media outlet reported that Musk is considering layoffs at the company. Is. According to a source who viewed the email, Twitter General Counsel Sean Edgett emailed employees on Thursday, saying the company was not planning layoffs.
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The Washington Post reported earlier Thursday that Elon Musk told potential investors in his deal to buy Twitter that he planned to lay off about 75% of the company’s 7,500 employees, citing interviews and documents. As the Washington Post reports, job cuts are expected in the coming months, regardless of who owns the company.
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Twitter’s current management plans to cut the company’s payroll by about $800 million by the end of next year, the report said. Twitter did not immediately respond to a Reuters request for comment.
Human resources employees at the social media company have told employees they were not planning large-scale layoffs, but documents showed broad plans to lay off employees and cut infrastructure costs, before Musk announced The company offered to buy The Washington Post. informed of.
Musk tried to walk away from the deal to buy Twitter in May, accusing the company of reducing the number of bots and spam accounts on the social media platform, which triggered a series of lawsuits between the two parties.
Earlier this month, Musk reversed his stance and said he would pursue the deal on original terms.