A week after concluding his acquisition of the social media business, Elon Reeve Musk is reportedly starting layoffs at Twitter’s 7,500-person workforce in a major cost-cutting cull.
By Friday at 9 a.m. Pacific time, Twitter employees will be informed of their job status.
According to two people familiar with the proposals, however, Musk has developed plans to eliminate 3,700 employees, or half of the workforce, though they cautioned that the precise number could change.
A small handful of Twitter employees filed a class-action complaint after the change, claiming that the firm had broken labour laws by failing to provide the needed advance notice.
Since Elon Musk took onboard, Twitter’s operations have seen some significant adjustments, both externally and internally. Musk intends to terminate about half of Twitter’s workers, according to recent sources.
One employee claimed that many workers lost access to their company email and Slack account on Thursday night, signalling the start of the layoffs.
The layoffs will put an end to a frenetic first week for Twitter under Musk’s leadership, which saw the world’s richest man restructure the management team, direct employees to work around the clock on new products, and openly discuss business-shaking ideas via his own Twitter account.
After Musk first announced his intention to purchase Twitter, tried to back out of the agreement while openly jeering the company’s employees, there has been unrest within Twitter for months.
The Twitter employees claim that Musk used a similar strategy last summer while making cuts at Tesla, the electric vehicle manufacturer that the billionaire leads, which prompted a lawsuit by Tesla employees.
Musk most likely won’t give certain Twitter employees the send-off they merit.