Elon Musk plans to lay off 3,700 people at Twitter Inc., or roughly half of the company’s workforce, in an effort to cut costs.
Musk also wants to change the company’s current “work from anywhere” policy and make the remaining employees come to the offices.
This week, Tesla billionaire Elon Musk fired every member of Twitter’s board of directors in order to seize complete control of the social media platform.
He promptly fired the majority of the senior executives, including the boss, Parag Agrawal, and a number of other executives.
Mr. Musk, who calls himself “Twitter Complaint Hotline Operator” on his Twitter page, is scrambling to find ways to cut costs after admitting he overpaid for the company.
According to the people who spoke on the condition of anonymity because they were discussing non-public plans, Twitter’s new owner plans to notify affected employees on Friday.
Musk also plans to reverse the company’s current work-from-anywhere policy, requiring remaining employees to report to offices – though some exceptions may be made, according to the people.
According to the people, Musk and a team of advisers have been weighing a variety of scenarios for job cuts and other policy changes at San Francisco-based Twitter, adding that the terms of the headcount reduction could still change.
Two of the people said that in one scenario being considered, laid-off workers will be offered 60 days of severance pay.
To read our blog on “Elon Musk says Twitter blue tick will cost $8 per month,” click here
