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Twitter Inc. Refutes Claims Elon Musk Plans To Cut Twitter Workforce By 75%

Contrary to news making rounds, Twitter Inc. has made it clear that there are no plans for a corporate-wide layoff, since signing a deal to be acquired by billionaire Elon Musk.

According to a source who reviewed the email given to employees on Thursday 20th October by Twitter General Counsel Sean Edgett, the firm has no plans to lay off any staff members, Reuters reports.

The Washington Post had earlier alleged that on Thursday Elon Musk had informed potential investors in his attempt to purchase Twitter that he intended to fire up to 75% of the 7,500 employees, citing interviews and documents.

No matter who owns the business, employment layoffs are anticipated in the near future, according to the Washington Post.

     

By the end of next year, Twitter’s existing management intended to reduce the company’s payroll by around $800 million, which would result in the departure of close to a quarter of the workers, according to the report., however, requests for comments have not yet been answered by Twitter.

Documents revealing significant preparations to push out staff and reduce infrastructure expenses were already in place before Musk attempted to buy the company, according to the Washington Post, although human resources staff at the social networking giant informed employees they were not planning for mass layoffs.

In May, Musk attempted to back out of the agreement to purchase Twitter, claiming the firm had misrepresented the amount of spam and bot accounts on the social media site. This sparked a string of legal disputes between the two sides.

However, earlier this month, Musk reversed course and said he will proceed with the deal on the original terms.

 

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