Yes Elon Musk finally gets its hands on Twitter next week, it could lay off up to 75% of the company’s workforce.
Musk has told potential investors in his $44 billion deal to buy Twitter that he intends to get rid of three-quarters of the staff members there, according to documents seen by the Washington Post.
If it happens, it means the billionaire businessman would oversee the loss of about 5,500 Twitter employees in a move that would cut its workforce from 7,500 to just over 2,000, the Post said.
The report lines up with public comments made by Musk in June when he hinted that job losses would ensue, saying that Twitter’s costs exceeded its revenues and that the company needed to “get back on its feet.”
Speaking to the Post about Musk’s reported plan to send most of Twitter’s workforce packing, Edwin Chen, a data scientist and Twitter’s former head of spam and health metrics, said it would be “unimaginable,” and He added: “It would be a cascading effect where services would go down and the people who stay don’t have the institutional knowledge to bring them back.” and being completely demoralized and wanting to leave themselves.”
In other words, losing so many workers could have a detrimental impact on the quality of service offered by Twitter. And with many users concerned about Musk’s apparent plan to scale back content moderation on a platform already struggling with such issues, the apparent plan will likely be a major concern for many in the Twitter community.
Musk’s offer to buy Twitter for $44 billion is expected to be fulfilled on October 28. It follows a long legal battle with the social media company that at times seemed to cast doubt on the deal.
If the acquisition falls through in the coming days and Musk ends up not acquiring Twitter, the Post said significant layoffs at the social media company could still follow, albeit on a smaller scale than Musk has reportedly planned. According to their report, prior to Musk’s involvement, the company had been planning to cut its workforce by 25%, equivalent to around 1,900 employees.