Elon Musk plans to fire about 75% of the social network’s 7,500 employees Twitter if he gains control of the company that controls it, according to information published by the Washington Post.

On the other hand, in response to the publication, Twitter management sent an email to its employees, assuring them that no layoffs were planned.

What the post says

According to the publication, the head of Tesla and SpaceX told other potential investors that he intends to reduce the company’s staff to about 2,000 people.

The multi-billionaire is close to a deal to buy the social network for $44 billion after months of financial and legal wrangling.

Musk said he would cut nearly 75 percent of Twitter’s workforce if he took control. This move will dramatically impact the user experience. https://t.co/JTqxFCt6CX

— The Washington Post (@washingtonpost) October 20, 2022

According to the newspaper, there will be thousands of layoffs in the coming months, regardless of who owns the company. According to the report, the current administration already set out to cut labor costs by about $800 million by the end of next year, which means cutting about a quarter of its workforce.

While the social network’s human resources executives have assured workers that no layoffs are planned, the documents show that plans to lay off employees and cut infrastructure spending were in place even before Mr. Musk proposed the takeover, the paper said.

Twitter legal spokesman reassures

With the Washington Post growing in size, there were immediate reflexes from the management of Twitter Inc, who reassured its employees, assuring that no layoffs were planned.

The company’s general counsel, Sean Edgett, stressed in an email to employees that no layoffs are planned, according to sources who read it.

Deal for Twitter

The eccentric Mr. Musk initially offered to buy Twitter, which the company’s board of directors accepted in late April, reassuring that its priority was not to make a profit, but to protect free speech.

He then appeared to back down, accusing the company of lying about the measures it is taking to combat automated accounts and spam.

The company sued him in early July. After all, Elon Musk earlier this month assured that the acquisition will indeed take place. The court postponed the proceedings, which were due to begin this week, and gave the parties until October 28 to conclude a new deal.

According to APE-MPE, AFP, Reuters