Elon Musk plans to cut about,700 jobs at Twitter Inc or half of the company’s pool in a shot to cut costs, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Twitter’s new proprietor will inform the staff affected on Friday, according to the report.
Bloomberg also reported that Musk intends to reverse the social media company’s working-from-anywhere policy and will bear workers to work from the office though some exceptions could be made.
Musk, in a tweet, had denied a New York Times report that said he was planning to lay off Twitter workers before Nov 1 to avoid stock subventions due on the day.
What a guy. @elonmusk is making sure to fire people at Twitter before part of their year-end compensation *kicks in on Tuesday.* https://t.co/sEclZozKV5 pic.twitter.com/inw3vF0kIL— Eric Umansky (@ericuman) October 29, 2022
Twitter didn’t incontinently respond to a Reuters request for comment.
Reuters had reported before this week, citing sources that Musk plans to cut a quarter of Twitter’s pool as part of a first round of layoffs at his lately acquired company.