Twitter has told employees there are no plans for company-wide layoffs since the sale to billionaire Elon Musk, following reports that Musk is considering layoffs at the company.
Twitter General Counsel Sean Edgett emailed employees Thursday that the company had no plans to lay off workers.
The Washington Post reported earlier Thursday that Elon Musk told potential investors in his deal to buy Twitter that he plans to shed nearly 75 percent of the company’s 7,500 employees, citing interviews and documents.
According to the Washington Post report, job cuts are expected in the coming months regardless of who owns the company.
Twitter’s current management planned to cut the company’s payroll by about $800 million by the end of next year, a figure that would mean the departure of nearly a quarter of its workforce, the report said.
HR officials at the social media company have told employees they have no plans for mass layoffs, but documents showed extensive plans to evict employees and cut infrastructure costs were in place before Musk’s purchase of the company, the Washington Post said , offer reported.
Musk tried to walk away from the deal to buy Twitter in May by claiming the company underestimated the number of bot and spam accounts on the social media platform, sparking a series of lawsuits between the two triggered parties.
Earlier this month, Musk reversed course and said he would continue the deal on the original terms.
https://www.independent.ie/business/technology/news/twitter-insists-no-layoffs-on-the-way-after-reports-elon-musk-plans-to-dump-75pc-of-staff-42084166.html Twitter insists no layoffs are planned after reports Elon Musk plans to lay off 75 percent of employees