Following his official takeover of the company on Thursday, Elon Musk reportedly immediately ordered significant job cuts across Twitter. The social media company’s managers are also being asked to evaluate Tesla CEO’s workforce.
According to three unnamed sources with knowledge of the situation who spoke to the New York Times, Musk has ordered job cuts across the company, with some teams being affected more than others.
They also claimed that some managers were being asked to compile lists of workers to fire.
The number of layoffs has not yet been determined, but the New York Times reported that Twitter currently employs about 7,500 people. According to Silicon Valley wisdom, Twitter not only has too many employees for its level of revenue, but also employs a radical leftist employee base, including those who demanded their jobs be kept after writing an open letter to Musk.
“I was told to expect somewhere around 50 percent of people will be laid off,” Ross Gerber, the chief executive of Gerber Kawasaki Wealth and Investment Management, said.
The report also stated that the Twitter layoffs would occur before November 1, when workers were supposed to receive stock grants as a part of their pay.
Musk may be able to avoid having to pay out the grants by firing workers prior to that date, even though the merger agreement reportedly requires him to pay the employees in cash instead of stock.
Musk began meeting with staff members as soon as he got to Twitter’s San Francisco headquarters on Wednesday. The following day, he fired the company’s top executives, including Parag Agrawal, the CEO, Ned Segal, the chief financial officer, and Vijaya Gadde, the head of “trust and safety,” who was infamous for her zealous left-wing censorship campaign and for suspending former President Donald Trump’s account.
In order to stop Twitter engineers from making any additional changes to the platform, Musk also had Tesla engineers review the software code of the platform.
The founder of SpaceX is also thinking about taking over as CEO of Twitter. He has plans to lift many of the users’ lifetime bans who have been blacklisted from the service, including former President Donald Trump. Following his ban, Kanye West’s account is already accessible on the platform.