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Home News Business

Elon Musk Suggests Slashing 75% Of Twitter’s Workforce, But The Company Is Pushing Back

According to a report from the Washington Post, Musk informed prospective investors that under his watch, massive layoffs were coming for the company’s 7,500 employees.

Aayat AlibyAayat Ali
October 21, 2022
in Business
Reading Time: 1 min read
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Elon Musk Suggests Slashing 75% Of Twitter’s Workforce, But The Company Is Pushing Back

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After news emerged that Elon Musk had plans to slash 75% of Twitter’s workforce, the social media firm has sent an email to employees dispelling these rumors.  

According to a report from the Washington Post, Musk informed prospective investors that under his watch, massive layoffs were coming for the company’s 7,500 employees.  

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“A 75% headcount cut would indicate, at least out of the gates, stronger free cash flow and profitability, which would be attractive to investors looking to get in on the deal,” said Dan Ives, an analyst at Wedbush. “That said, you can’t cut your way to growth.” 

However, Twitter General Counsel Sean Edgett sent out an email following the report, communicating that the company is not expecting mass layoffs.  Despite this, layoffs were already in discussion prior to Musk offering to purchase the company last spring, so job cuts are still expected to impact Twitter no matter who takes ownership. 

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Source: AP News
Tags: BusinessMarketingWorkforce
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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