According to The New York Times, Elon Musk has ordered company-wide layoffs at Twitter. The SpaceX and Tesla boss allegedly directed managers on Saturday to begin compiling names of staff to lay off. Twitter did not react quickly to Engadget’s request for comment.
The Times was unable to identify how many of Twitter’s employees Musk intends to let off, while certain teams will be hit worse than others. Before completing his $44 billion buyout of Twitter, Musk allegedly informed investors that he wanted to lay off up to 75 percent of the company’s 7,500-person workforce. Musk is believed to have informed employees at a meeting that he would not drastically reduce the company’s personnel.
The next layoffs are expected to take place before November 1st. The timing may allow Musk to avoid handing out stock awards to departing employees. Such payments “often comprise a large chunk” of an employee’s income, according to The Times. While Musk has revealed some specifics about how moderation on the platform would appear under his leadership, he has been less transparent about his aspirations for the company’s personnel. He spent most of Saturday tweeting about food.
Musk has already fired some of Twitter’s top executives, including CEO Parag Agrawal and Chief Financial Officer Ned Segal, on the day he took over the firm. According to The Guardian, Musk’s choices will cost him at least $120 million in “golden parachute” payments.
