Elon Musk may become the next owner of Twitter, and he plans to cut 75% of the workforce out when he takes over.
Investors were told by Musk that following his purchase, he plans to lay off 75% of the 7,500 workers currently employed by Twitter.
This was first reported by The Washington Post, according to CNY Central.
Will Elon Musk really cut 75% of Twitter’s workforce if he buys the company?
A representative for Elon Musk, attorney Alex Spiro, has not commented on the validity of the comments being made.
Jobs with Twitter were already expected to be cut, but not as many as 75% of them.
One expert shared that by cutting that much out of the workforce, it would significantly free up cash flow and increase profitability.
This would make Twitter more attractive to investors, however, it may hinder the growth of the already massive social media platform.
A move like this could take Twitter backwards and undo all of the work that’s gone into it.
One of the drawbacks of drastically cutting the workforce could be a hindrance of content moderation and data security. This would make the app really unattractive to current users. Should that happen, the app could become filled with bad content and spam.
Musk has already stated that if that happened, he would address it himself.
Elon Musk had already put in a $44 billion dollar bid on Twitter in April, but pulled out. His reasoning was that Twitter misrepresented how many spam bot accounts were using the app. Twitter ended up suing, and a Delaware judge is giving both sides until Oct. 28 to figure it out. There will be a trial in November if they do not come to a resolution.
Judge denies Republicans lawsuit to top student loan forgiveness plan
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to news@fingerlakes1.com.