Elon Musk plans to cut Twitter workforce by half: Reports
Close to 3,700 employees could be sacked after senior team members were asked to compile a layoff list
Following his $44 billion takeover of Twitter, Elon Musk may downsize his workforce by half, according to media reports. The Tesla CEO may let go of 3,700 employees as a cost-cutting measure, say people who are privy to the matter. The affected staff may be informed by Friday.
Musk is also planning to ask work-from-home employees to return to the office, although exceptions may be made in certain cases.
Musk will be acting as an interim CEO and has been consulting his team of advisors regarding job cuts and other policy changes. The staff who are let go may be offered 60 days' worth of severance pay, according to the report.
The team heads have been asked to prepare a layoff list, which would slash their respective teams by 50%. Employees will be shortlisted based on their contributions to Twitter's code during their tenure at the company.
