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Musk plans to cut nearly 3,700 jobs at Twitter, lay off half of its workforce, report says

The Bloomberg report also stated that Elon Musk intends to reverse Twitter Inc's existing work from anywhere policy and will require employees to work from office.

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Bengaluru: Elon Musk plans to cut about 3,700 jobs at Twitter Inc or half of the company’s workforce in a bid to cut costs, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Twitter’s new owner will inform the staff affected on Friday, according to the report.

Bloomberg also reported that Musk intends to reverse the social media company’s existing work from anywhere policy and will require employees to work from 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 employees before Nov. 1 to avoid stock grants due on the day.

Twitter did not immediately respond to a Reuters request for comment.

Reuters had reported earlier this week, citing sources that Musk plans to cut a quarter of Twitter’s workforce as part of a first round of layoffs at his recently acquired company. -Reuters

(Reporting by Sneha Bhowmik in Bengaluru; Editing by Rashmi Aich)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.


Also read: Elon Musk ropes in Sriram Krishnan as technology executive as he implements changes in Twitter


 

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