Elon Musk Expected To Start Twitter Layoffs Tomorrow By Informing 3,700 Affected Employees

Even before Elon Musk completed the Twitter takeover Last week, reports of his plans to lay off the majority of Twitter employees began to crop up.

Some mentioned that he plans to lay off 75% of the Twitter workforce, whereas some stated that he does not plan any layoffs at all.

But now, a week after Elon Musk completed his $44 billion takeover of Twitter, the world¡¯s richest person plans to eliminate about 3,700 jobs at Twitter, i.e., about 50% of the social media company¡¯s workforce, in a bid to drive down costs following his $44 billion acquisition, according to people with knowledge of the matter.

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Twitter¡¯s new owner, Musk, aims to inform affected staffers on Friday, said the people, who requested anonymity to discuss non-public plans. Musk also intends to reverse the company¡¯s existing "work from anywhere" policy asking remaining employees to report to offices -- though some exceptions could be made, the people said, as per a Bloomberg report.

However, Tesla CEO Elon Musk, in a tweet, denied a New York Times report that said he was planning to lay off Twitter employees before November 1 to avoid stock grants due on that day.

This is false

¡ª Elon Musk (@elonmusk) October 30, 2022

Earlier this week, Reuters reported, citing sources, that Musk plans to cut a quarter of Twitter's workforce as part of a first round of layoffs at his recently acquired company.

Now it remains to be seen whether the latest reports turn out to be true, which may become clear if the affected Twitter employees (if any) soon get the communication about layoffs from the new Twitter owner.

Also Read: List Of Global Giants Laying Off Employees

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Not The First Layoffs By Elon Musk

If Twitter layoffs happen, this will not be the first time Musk announces layoffs.

As early as June this year, Tesla had already begun to layoff hundreds of employees, which was confirmed by some affected employees on LinkedIn as well. This came after Tesla CEO Elon Musk expressed a "super bad feeling" about the economy and the need to cut about 10% of salaried staff at the company.

And in the recent months, many companies have announced layoffs, including tech giants Microsoft, Meta, Snap, and Intel, automaker Ford, banking giants Goldman Sachs and Credit Suisse, the owner of the Calvin Klein and Tommy Hilfiger brands, etc.

Even Alphabet and Google CEO Sundar Pichai had hinted about potential layoffs. US banking giant Morgan Stanley is also expected to join this list of giant organisations announcing layoffs.

Also Read: US Company's CEO Wants People To Be 'Happy' About Layoffs

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