According to reports, Elon Musk wants to cut 3,700 jobs at Twitter, or roughly half of the workforce, in an effort to reduce costs at the social media platform he recently purchased.
According to Bloomberg, Axios, and the FT, which cited people familiar with the situation, he also wants to take away employees’ rights to work remotely and force them to spend all of their time in the office.
According to the reports, those who will be affected by the cuts may be informed on Friday.
Musk has already made some contentious decisions about the platform he paid €44.4 billion for after months of the legal saga in just one week.
After removing Twitter’s top executives, the multibillionaire businessman named himself CEO, declared that users would have to pay for the coveted blue tick, and suggested bringing back the long-gone video-sharing service Vine.
Employees at Twitter have been preparing for potential mass layoffs for the past two weeks after a shocking Washington Post report that claimed Musk intended to fire nearly 75% of the company’s 7,500 employees.
Musk denied the claim made by The New York Times last week that he had been preparing to fire Twitter employees before November 1 in order to avoid stock grants that were due on that day.
BYE BYE REMOTE WORK
Twitter was among the first businesses to permit employees to work remotely on a full-time basis when the COVID-19 pandemic struck.
But under Musk, it reportedly intends to mandate that its remaining employees work full-time out of physical offices.
According to Axios, those who must move in order to be close to a Twitter office may only have 60 days to do so. According to a source with knowledge of the situation, many employees are unable or unwilling to relocate, which would result in the loss of even more jobs.
