21 Oct 2022

Twitter's workforce likely to be hit with massive cuts in coming months - report

2:30 pm on 21 October 2022
ISTANBUL, TURKIYE - JULY 9: In this photo illustration Tesla and SpaceX CEO Elon Musk's twitter profile is displayed on a mobile phone screen and the image of Elon Musk is displayed on a computer screen in Istanbul, Turkiye on July 9, 2022. Tesla CEO Elon Musk announced Friday that he is pulling out of his $44 billion deal to buy Twitter. Celal Gunes / Anadolu Agency (Photo by Celal Gunes / ANADOLU AGENCY / Anadolu Agency via AFP)

Photo: AFP

Billionaire Elon Musk told prospective investors in his deal to buy Twitter that he planned to get rid of nearly 75 percent of the social media company's 7500 workers, the Washington Post reported on Thursday, citing interviews and documents.

The job cuts are expected in the coming months, no matter who owns the company, according to the report.

Twitter's current management planned to pare the company's payroll by about $US800 million ($NZ1.4 billion) by the end of next year, a number that would mean the departure of nearly a quarter of the workforce, the report said.

Human resources staff at the social media company have told employees that they were not planning for mass layoffs, but documents showed extensive plans to push out staff and cut down on infrastructure costs were already in place before Musk offered to buy the company, the Washington Post reported.

Twitter did not immediately respond to a Reuters request for comment.

Musk had tried to walk away from the deal to buy Twitter in May alleging the company understated the number of bot and spam accounts on the social media platform, which started a series of lawsuits between the two parties.

Earlier this month, Musk reversed course and said he will proceed with the deal on original terms.


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