Elon Musk has requested extensive cutbacks at Twitter, as indicated by The New York Times. On Saturday, the SpaceX and Tesla executive apparently advised managers to start drawing up lists of employees to cut.
The Times couldn’t decide the amount of Twitter’s workforce Musk intends to give up – however a few teams will be more impacted than others. Prior to finishing his $44 billion takeover of the organization, Musk apparently told investors he intended to lay off as much as 75% of Twitter’s 7,500-person strong workforce. In meeting with staff, Musk is said to have told workers he wouldn’t cut the organization’s headcount so dramatically.
The forthcoming cutbacks are probably going to happen before November 1st. The timing might offer Musk the chance to abstain from paying out stock awards to active laborers. As per The Times, such payouts “typically represent a significant portion” of a representative’s pay. While Musk has shared a few insights regarding what moderation on the platform could resemble under his watch, he’s been less forthcoming about his plans for the organization’s workforce. On Saturday, he spent most of Saturday tweeting about food.
Musk has already cut part of Twitter’s leadership team, firing CEO Parag Agrawal and CFO Ned Segal on the day he took ownership for organization. Those moves are expected to cost Musk somewhere around $120 million in “golden parachute” payouts.
