November 29, 2022

The Queens County Citizen

Complete Canadian News World

Elon Musk wants to lay off three-quarters of Twitter’s employees

Elon Musk wants to lay off three-quarters of Twitter's employees

(San Francisco) Elon Musk plans to lay off about 75% of Twitter’s 7,500 employees if he succeeds in buying the social network, according to reports published Thursday. The Washington Post.

Posted at 7:21 pm yesterday.

According to the American daily, the boss of Tesla and SpaceX has indicated to potential investors that he intends to cut the company to 2,000 employees.

The multi-billionaire is on the verge of buying the social network for $44 billion, after months of financial and legal wrangling.

Even if Elon Musk fails to buy Twitter, sources say the platform plans to cut nearly a quarter of its staff by the end of 2023. The Washington Post. Twitter did not immediately respond to a request from AFP.

The eccentric leader made a buyout proposal approved by the group’s board of directors in late April, which then confirmed that its priority was not profitability, but the protection of freedom of expression.

He wants to unilaterally withdraw from the contract, accusing the company of lying to him about automated accounts and its fight against spam.

Twitter filed the complaint in early July, and Elon Musk finally confirmed earlier this month that the transaction was indeed going to happen. The judge adjourned the hearing scheduled for this week and gave the two sides October 28 to reach a new agreement.

In mid-June, during a Q&A with employees of the San Francisco company, the businessman emphasized that he aims to reach one billion users instead of 230 million.

He also recalled the importance in his view of less stringent content regulation within the limits defined by law. Its design is at odds with many Twitter employees, unions and elected Democrats, who have called on the social network to fight hate speech, harassment and misinformation.

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His speech exposed the chasm that separates his vision of the company from that of many Silicon Valley employees conquered by teleworking.

Elon Musk asked Tesla employees to work face-to-face for at least 40 hours a week or they would lose their jobs.

In an interview with Twitter employees, he explained that he wants to improve strategic directions and products. He did not specify whether he wanted to lay off employees, but said performance was a consideration.