Elon Musk, the billionaire who agreed to buy Twitter Inc. (TWTR.N), was rumoured to be considering layoffs at the firm on Wednesday, but Twitter Inc. (TWTR.N) reiterated to staff on Thursday that there are no plans for company-wide layoffs since the deal was made.
A person who saw the email claims Twitter General Counsel Sean Edgett informed staff members on Thursday that there are no layoffs planned.
The Washington Post earlier on Thursday claimed, citing interviews and records, that Elon Musk informed potential investors in his attempt to purchase Twitter that he intended to lay off about 75% of the company’s 7,500 employees.
Regardless of who owns the business, employment layoffs are anticipated in the near future, according to a Washington Post investigation.
According to the source, Twitter’s present management intended to reduce the company’s payroll by around $800 million by the end of next year, which would result in the departure of close to a quarter of the employees.
A request for comment from Reuters did not receive a response right away from Twitter.
The Washington Post reported that despite assurances from the social media company’s human resources department that mass layoffs were not in the works, substantial preparations to fire personnel and reduce infrastructure expenses were in place even before Musk made an acquisition offer.
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