Once Elon Musk officially takes over Twitter, he plans to lay off three-quarters of the staff, The Washington Post reports. In total, this concerns about 5,600 employees who lose their jobs.
Musk has informed investors in the Twitter takeover of his plans to lay off a large part of the staff. Only 2,000 people would keep their jobs with the social media platform. However, the current Twitter management already had plans to significantly reduce labor costs. By the end of 2023, labor costs would be cut by about 800 million if the acquisition of Musk does not go through. That would mean the departure of a quarter of the staff.
Musk made an offer of $44 billion (45 billion euros) in April to take over Twitter. Shortly afterward, the top entrepreneur regretted it and decided in July that he wanted to get rid of the deal. Twitter then decided to sue Musk. The planned court case has been temporarily halted. At the beginning of this month, Musk announced that he was still willing to buy Twitter for the agreed amount.
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