According to Reuters a source who viewed the email sent by Twitter General Counsel Sean Edgett to employees on Thursday says the company does not plan layoffs.
Twitter Inc has clarified that it has no plans for a company-wide layoff since it signed a deal to be acquired by billionaire Elon Musk.
According to Reuters a source who viewed the email sent by Twitter General Counsel Sean Edgett to employees on Thursday says the company does not plan layoffs.
It was earlier reported by Washington Post on Thursday that Elon Musk had told prospective investors in his deal to buy Twitter that he planned to get rid of nearly 75% of the company’s 7,500 workers citing interviews and documents.
The Washington Post reported earlier on Thursday that Elon Musk told prospective investors in his deal to buy Twitter that he planned to get rid of nearly 75% of the company's 7,500 workers, citing interviews and documents.
The job cuts are expected in the coming months, no matter who owns the company, the Washington Post reported.
Twitter's current management planned to pare the company's payroll by about $800 million by the end of next year, a number that would mean the departure of nearly a quarter of the workforce, the report said.
Twitter is yet to respond to requests for comment.
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.
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 the original terms.