Twitter tells staff there are no plans for layoffs after report says Elon Musk plans cuts

The billionaire planned to get rid of nearly 75 per cent of the company's 7,500 workers, according to media reports

Elon Musk's Twitter profile on a smartphone placed on printed Twitter logos. Mr Musk is set to buy the social media platform. Reuters
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Twitter has clarified to staff that there are no plans for companywide layoffs as it denied reports by a media outlet that billionaire Elon Musk plans to reduce the size of the workforce once he completes his acquisition of the microblogging platform.

The company's general counsel, Sean Edgett, emailed employees on Thursday to inform them that there was no plan to make any job cuts, according to a source who viewed the email.

The Washington Post reported earlier on Thursday that Mr Musk, the world's richest person, told prospective investors in his proposed deal to buy Twitter that he planned to get rid of about 75 per cent of the platform's 7,500 workers, citing interviews and documents.

The job cuts are expected in the coming months, no matter who owns the company, The Washington Post report said.

Documents show extensive plans to push out staff and cut down on infrastructure costs were already in place before Mr Musk offered to buy the company, it added.

Twitter's current management planned to pare the company's payroll by about $800 million by the end of next year, a number that would mean the departure of close to a quarter of the workforce, the report said.

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Twitter did not immediately respond to a request for comment.

Mr Musk had tried to walk away from the deal to buy Twitter in May, alleging that the company understated the number of bot and spam accounts on the social media platform, which started a series of lawsuits between the two parties.

Earlier this month, Mr Musk reversed course and said he would proceed with the deal on original terms.

Updated: October 21, 2022, 5:32 AM
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