5,000 employees may lose jobs once Elon Musk buys Twitter, claims report – Times of India

The will he, won’t he saga of Elon Musk buying Twitter has been rumbling on for a while now. After months of negotiations, lawsuits, controversies and more, it does appear that the Tesla CEO could end up buying the social media platform. And that may not be good news for a lot of Twitter employees. According to a report by The Washington Post, Musk told: “prospective investors in his deal to buy the company that he plans to get rid of nearly 75 per cent of Twitter’s workforce.” Currently, Twitter has about 7,500 employees. If Musk’s plans do go through, close to 5,500 employees will lose their jobs.

The report further adds that it won’t matter if Musk buys or doesn’t buy the company, job cuts are imminent at Twitter. The report is based on interviews and documents obtained by the publication.
Another report by Bloomberg also suggests that investors have been told that there are plans to cut jobs at Twitter. However, no number was mentioned by Bloomberg but the report says that the company’s to double its revenue within three years.
So far, Twitter hasn’t commented on the report though the workers have been warned, as per Bloomberg. Twitter’s General Counsel Sean Edgett, as per the Bloomberg report, told workers to expect a lot of rumours. “We do not have any confirmation of the buyer’s plans following close and recommend not following rumours or leaked documents but rather wait for facts from us and the buyer directly,” he said. He further said in the memo that cost savings and planning has been on the agenda of the company. “Those discussions stopped once the merger agreement was signed,” he said. “Since the merger agreement has been in place, there have been no plans for any companywide layoffs.”

It has been reported that Musk’s deal to buy Twitter is expected to go through on October 28.