Elon Musk is set to slash Twitter’s headcount drastically once his $44 billion deal for the social network goes through.
The mega-billionaire has told potential investors in the Twitter deal that he plans to lay off almost 75% the company’s staff, or about 5,500 employees, to reduce the size of its workforce from 7,500 to just over 2,000, the Washington PostReps for Twitter and Musk did not immediately respond to a request for comment.. Earlier this month he agreed to go forward with his original $54.20/share offer for Twitter, after spending three months attempting to back out of the deal.
Per the Post story, Twitter management had planned to cut its payroll by $800 million by the end of 2023, representing a 25% reduction in headcount. As such, Musk’s $44 billion acquisition is a “golden ticket for the struggling company,” according to the Post article, “potentially helping its leadership avoid painful announcements that would have demoralized the staff and possibly crippled the service’s ability to combat misinformation, hate speech and spam.
In a June 16 Q&A with Twitter employees, Musk said there needs to be a “rationalization of headcount,” and said: “Anyone who is a significant contributor should have nothing to worry about.” That was before Musk tried to exit the deal in early July, whereupon the company sued him, seeking to enforce the terms of the merger agreement. Musk evidently reversed course after realizing he would likely lose his legal fight with Twitter over the agreement. until Oct.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
10 Elon Musk quotes from his Q3 earnings call - AutoblogThe Tesla CEO teased up to $10 billion of stock buybacks next year, rang the deflation alarm, and distanced himself from Warren Buffett.
Consulte Mais informação »
Behold This Pancake That Looks Like Elon MuskWill the miracles of this universe ever cease?
Consulte Mais informação »
Elon Musk Says Tesla Is Working On a Car 'Half the Cost' of a Model 3And it'll outsell every other Tesla model combined, he says. But anyone who's followed Tesla for long knows he doesn't always deliver promptly.
Consulte Mais informação »
Elon Musk and The Worst-Case Scenario of a Nuclear Apocalypse | HackerNoonElon Musk. Business. Tech. Politics. What could go wrong? - by HackerNoonGhost elonmusk twitter
Consulte Mais informação »
Elon Musk Says Tesla Is ‘Pedal to the Metal' Even With Potential Recession LoomingOn Tesla’s third-quarter earnings call, CEO Elon Musk told analysts how his car company plans to continue expanding regardless of what happens with the economy.
Consulte Mais informação »
Elon Musk says he's 'obviously overpaying' for Twitter but touts platform's 'incredible potential'Billionaire Elon Musk has said his decision to acquire Twitter for $54.20 per share could potentially accelerate the creation of X, an 'everything app,' by three to five years.
Consulte Mais informação »