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Musk plans mass layoffs on Twitter

Musk plans mass layoffs on Twitter

Elon Musk is said to be planning a mass layoff at the short message service after his takeover of Twitter. More than 5,000 employees would be affected.

According to a news report, Elon Musk is planning a job cut at Twitter. The Washington Post wrote that he had indicated to potential investors that he would reduce the number of employees in the event of a takeover from 7,500 to about 2,000. The newspaper relies on privileged information and confidential documents.

Twitter legal director Sean Edgett tried to calm the employees. The company has no confirmed information about Musk’s post-acquisition plans, he wrote in an internal memo seen by financial service Bloomberg. Because of this, Twitter recommends waiting for official information rather than paying attention to rumors or leaked information, Edgett wrote.

After months of back and forth, Musk’s $44 billion takeover of Twitter is expected to be completed by the end of next week, if problems don’t resurface. The responsible judge has imposed a deadline: if the purchase is not completed before October 28, there will still be a court case.

Twitter acquisition may still be under review

Bloomberg mentioned another possible roadblock last night. The White House is considering whether any of Musk’s deals, including the Twitter acquisition, could be subject to national security scrutiny, the financial service said, citing its sources. After such verification, transactions may be prohibited.