A report has said that Twitter boss Elon Musk plans to fire 50% of Twitter’s workforce. According to a report from Bloomberg, about 3,700 people are planned to be affected. The reason behind the lay-offs is to cut cost. While the news is going round on the internet, the employees are yet to be informed.
Bloomberg also reported that senior executives and advisers have been discussing with Elon Musk a range of scenarios for how the layoffs should take place, and one idea is for terminated workers to receive 60 days’ worth of severance pay. It is said that the remaining people will be asked to work from the office full-time, which is a reversal of the work-from-anywhere policy that was introduced in the early days of the COVID-19 pandemic.
It could be recalled that Elon Musk was forced to buy Twitter at a price negotiated in April. Musk paid about $44 billion for the acquisition. The new Twitter owner aims to inform affected staffers Friday.