Report: Elon Musk aims to cut 50% of Twitter’s workforce

Bloomberg News reported on Wednesday, citing people familiar with the situation, that Elon Musk intends to eliminate roughly 3,700 workers at Twitter Inc, or half of the company’s employment, in an effort to slash costs.

According to the report, the new owner of Twitter will contact affected personnel on Friday.

Bloomberg also stated that Musk plans to change the social media company’s current work-from-anywhere policy and will require staff to work from the office, with certain exceptions.

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Musk rejected in a tweet a New York Times allegation that he planned to lay off Twitter employees before November 1 in order to dodge stock rewards due on that date.

Elon Musk plans to cut down staff

Twitter did not react immediately to a request for comment from Reuters.

Reuters reported earlier this week, citing sources, that Musk intends to fire off a quarter of Twitter’s employees in the first round of layoffs at the firm he recently acquired.