Twitter Clarifies Over Reports Of Musk Planning To Lay Off Around 75% Of Its Employees Post-Buyout

New York: If reports in the media are to be believed, Elon Musk intends to fire the majority of the company’s employees, if he acquires Twitter. Musk, the Tesla CEO, wants to reduce the number of Twitter employees by 75%, according to reports.

However, in response to the allegation, which included papers and unnamed persons involved with the discussions, Twitter stated that the company had no plans to lay off any of its employees.

With numerous internet companies having recently announced hiring freezes and layoffs due to the economic slump, Twitter claimed in July that it has already curtailed hiring. However, reducing the workforce by 75% poses a concern because the platform can soon be inundated with spam and hazardous information. Musk has previously said that after purchasing the microblogging platform, he intends to delete the spam bot accounts.

This information comes at a time when the deal is the subject of a legal dispute between the two parties. Musk agreed to purchase Twitter in April, but in July, Musk announced he was “terminating” the agreement due to his worries about the prevalence of phoney and spam bot accounts. The business, in an effort to make the deal happen despite the claim being rejected, retaliated by suing the millionaire.

Musk agreed to buy Twitter for $54.20 per share, and the court has given both parties until October 28 to hash out the specifics. If the parties are unable to agree on the specifics, a trial will be held in November.