Elon Musk plans to lay off 75% of Twitter employees
At the time of writing, Twitter has about 7,500 employees, but it is reported that Earon Mask plans to dismiss 75% of them.
Planned cuts at Twitter likely to hurt content moderation, user security - The Washington Post
Elon Musk reportedly wants to fire most of Twitter's employees - The Verge
https://www.theverge.com/2022/10/20/23415364/elon-musk-twitter-firing-staff
Elon Musk reportedly wants to lay off 75% of Twitter's staff | TechCrunch
https://techcrunch.com/2022/10/20/elon-musk-twitter-layoffs-wapo/
Electric vehicle maker Tesla and Elon Musk, also known as the CEO of space development company SpaceX, made an acquisition proposal to Twitter in April 2022, and the two agreed. However, Mr. Mask announced that he would unilaterally cancel the acquisition of Twitter, saying, `` Fake accounts and spam accounts are widespread on Twitter.'' In response, Twitter sued Mr. Musk to enforce the acquisition agreement.
Twitter agrees to acquire 5.6 trillion yen by Elon Musk - GIGAZINE
by Steve Jurvetson
After that, in October 2022, Mr. Mask announced that he plans to acquire Twitter again.
Earon Mask shows his intention to 'buy Twitter after all' - GIGAZINE
by Steve Jurvetson
Musk plans to complete the acquisition of Twitter by October 28, 2022, but in a sign that the deal is underway, ``Twitter has frozen stock incentives for employees.'' Bloomberg reports. And an anonymous source also told The Washington Post, 'The acquisition transaction is proceeding in good faith.'
Originally, before the acquisition proposal from Mr. Mask was made, Twitter's management plan to cut costs by reducing 25% of employees and reducing labor costs by about 800 million dollars (about 120 billion yen). That's right. But Musk plans to make more drastic cuts, which are 'unimaginable,' according to Twitter's former head of spam and health metrics. The layoff plan, described as 'unimaginable', would lay off 75% of the existing workforce.
Mr. Musk told Twitter that ``the expenditure is clearly too much,'' and it is clear that there will be some reduction in personnel. On the other hand, a general partner who is involved in Mr. Mask's acquisition of Twitter said, ``To be honest, we are all trying to get out of Mr. Mask's plan,'' he told Business Insider, Mr. Mask's acquisition. I have a question about Twitter's operation plan later. In addition, Mr. Mask says that he will double Twitter's revenue in three years from the acquisition, but does not explain how it will be realized.
In response to reports that Mr. Mask is planning to lay off 75% of the workforce, TechCrunch, an overseas media outlet, said, ``Mr. Mask clearly has a fundamental understanding of some of the serious problems facing Twitter. Musk is desperate to turn to Twitter's former security chief and whistleblower, Peiter Zatko, and is largely unaware of the content moderation issues Twitter is grappling with. Mr. Mask's plan will lead to significant cost savings, but Twitter's credibility and safety will be seriously damaged.'
In addition, Mr. Mask's bold policy of ``dismissing 75% of employees'' may be one of the easy-to-understand appeals for investors who are investing in the acquisition of Twitter with Mr. Mask. High, notes TechCrunch.
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