Musk plans to cut 75% of Twitter’s workforce globally: report
The future of Twitter’s workforce has been called into question, as Elon Musk reportedly told potential investors he planned to eliminate nearly 75% of the platform’s workers.
According to a report by The Washington Post, Musk suggested condensing Twitter’s 7,500 workers down to just over 2,000.
The report also said in the unlikely scenario where Musk’s deal with Twitter falls through again, Twitter’s current management still planned to trim the company’s payroll by about US$800 million (A$1.27 billion) by the end of 2023.
However, Twitter has since clarified in a staff email it has no plans for company-wide layoffs since it signed a deal to be acquired by Musk, according to Reuters.
Mumbrella has approached Twitter Australia to understand the validity of these reported cuts and how they might potentially affect Australian employees.
Musk’s US$44 billion ($38 billion) deal with Twitter was back in action earlier this month after the billionaire moved to terminate the purchase in July.
Twitter posted a US$1.18 billion (AU$1.88) revenue in Q2 2022. The company cited unstable macroeconomic conditions and uncertainties brought by the Musk deal as reasons for its 1% decrease year-on-year.
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