Elon Musk has reportedly told prospective investors he wants to cut Twitter’s workforce significantly by nearly 75% once he owns the social media giant.
The billionaire mogul is looking to reduce the workforce from 7,500 workers to only around 2,000 workers, according to documents and interviews obtained by the Washington Post.
MUSK SAYS HE IS ‘OBVIOUSLY OVERPAYING’ FOR TWITTER IN $44B ACQUISITION
Musk shared the plans as part of a pitch to get investors to help finance his $44 billion takeover of the company, which he has reportedly had trouble funding.
Big changes are likely to be in store for Twitter as Musk focuses on free speech, with many employees already jumping ship from the social media platform, worrying about the changes coming to the company.
Musk said in an Oct. 4 letter that he plans on going through with the deal once he receives the financing, a reversal from when he backed out of the agreement earlier in the year. Days later, a judge halted the trial in a lawsuit by Twitter to give the deal a chance to go through.
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Twitter and Musk have until Oct. 28 to finalize the details of the deal for the takeover or risk having to return to court.
The report on Musk’s stated plans said Twitter did not respond to a request for comment.
