Elon Musk plans job cuts at Twitter, asks managers for list of employees to be laid off

Days after completing the $44 billion acquisition of the social media platform, Elon Musk reportedly had plans to start firing employees at Twitter.

According to a report from the New York Times, Musk has the intention of starting laying off employees at Twitter as early as this Saturday.

Some managers had been told to write up lists of staff to cut, according to people with knowledge of the situation. Before Musk purchased Twitter, there were rumours he would cut workers, with some speculating that up to 75% of the company's employees could lose their jobs.


The layoffs at Twitter might occur before November 1, when workers were slated to receive stock awards as part of their remuneration.

According to statements he made to investors, Musk has pledged to take Twitter private, decrease its workforce, roll back its content moderation policies, and discover new revenue streams. These awards generally make up a sizable portion of an employee's salary. Before that time, Musk may avoid paying the grants by firing employees.



Musk stated that the social media industry would create a content moderation council, and significant content decisions or account reinstatements would only be made after the group's meeting.

As Musk's acquisition was finalised, the CFO, Ned Segal, CEO Parag Agrawal, Vijaya Gadde, the legal executive, and general counsel Sean Edgett were fired.

FAQs:

1. What did Musk state?
   Musk stated that the social media industry would create a content moderation council.
2. When would the layoffs take place?
   The layoffs at Twitter might take place before November 1, when workers would receive stock awards as part of their remuneration.