SAN FRANCISCO: Billionaire Elon Musk is planning to lay off about 75 per cent of the microblogging site's workforce, as part of his bid to acquire Twitter, a report said.
Regardless of who owns the business, job layoffs are anticipated in the upcoming months, according to reports, which was based on interviews and records, according to a Washington Post report.
The report reads, the news of Musk's plans, should he ultimately take over the business, come at a difficult moment for Twitter.
In the midst of a general economic slowdown in the tech sector, when numerous companies have recently announced hiring freezes and layoffs, the corporation stated in July that it has already "seriously curtailed hiring." Documents revealed significant preparations to force out people and reduce infrastructure expenses were already in place before Musk sought to buy the company, despite what human resources staff at the social media giant said to their employees.
However, the new report indicated Musk wanted to shrink the company's 7,500 employees down to a "skeleton staff" of approximately 2,000 individuals. Twitter's present management had intended to fire 25% of the workforce by the end of next year.
According to the source, the layoffs will likely have an effect on Twitter's daily operations, including its capacity to police harmful content and address security issues.
This comes after a harsh whistleblower assessment in September claimed that Twitter had "egregious" shortcomings and fell short on both counts.
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