New Twitter owner Elon Musk is planning to lay off 3,500 workers, a report said on Thursday, with affected employees expected to be informed on Friday.
New Twitter owner Elon Musk is planning to cut the company’s workforce by about half, insiders told Bloomberg on Wednesday.
The report said the company’s headcount will be reduced by 3,700, leaving it with about 3,800 workers to carry out its operations. Affected employees will reportedly be notified on Friday and may be given 60 days severance pay, though the precise exit terms have yet to be confirmed.
Consulting an inner circle of advisers, sources told Bloomberg that Musk and his team created “layoff lists” with employees ranked according to their contributions to Twitter’s code.
The move to cut the workforce is apparently part of efforts to reduce Twitter’s running costs as Musk looks at ways to boost the company’s bottom line.
