After his $44 billion deal for the social network expires, Elon Musk may be ready to drastically reduce Twitter’s workforce.
The billionaire told potential investors in the deal on Twitter that he planned to cut about 75% of the company’s workforce, or about 5,500 employees, so the company, the Washington Post reported, citing anonymity the workforce from 7,500 to 2,000.Sources and documents are.
Representatives for Twitter and Musk did not respond to requests for comment. On Tesla’s Q3 2022 earnings call on Wednesday, Musk said he paid a lot for Twitter.
Earlier this month, it agreed to advance its original offer of $54.20/share for Twitter after spending three months trying to get out of the deal.
“Obviously, while I and other investors are currently overpaying for Twitter, the long-term potential of Twitter, in my view, outweighs its current value,” Musk said.