“Chief Twit” Musk Reportedly Orders Job Cuts Across Twitter
Twitter’s workforce is expected to be gutted as soon as today, four people with direct knowledge of the matter told NYTimes. Managers of the social media platform have been asked to create lists of employees to cut.
Billionaire Elon Musk, who became “Chief Twit” on Thursday after finalizing the deal to purchase Twitter for $44 billion, immediately ordered company-wide cuts. The people in the know weren’t entirely sure about the scale of the layoffs.
Musk has recently said that he planned to cut 75% of the company’s 7,500 employees, leaving a workforce of approximately 2,000.
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The layoffs would occur before Nov. 1, when employees are scheduled to receive stock grants as compensation. Musk could avoid paying the grants by laying off workers before that date.
On Wednesday, Musk walked into Twitter’s San Francisco headquarters carrying a kitchen sink in preparation for his takeover. He tweeted: “Entering Twitter HQ – let that sink in!”
The world’s richest man also changed his Twitter bio to “Chief Twit.”
Musk has already fired Twitter’s chief executive, chief financial officer, and other executives.
This post was originally published at Zero Hedge
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