The deal between Elon Musk and Twitter is going well, but this billionaire intends to lay off 75% of the social platform’s employees.
Elon Musk’s downsizing will have a negative impact on Twitter
According to The Washington Post’s own sources, in an exchange with investors, Elon Musk revealed his intention to reduce Twitter’s human resources to cut costs. It’s highly likely that 75% of this company’s 7,500 employees could be laid off.
The deadline for Elon Musk to complete his acquisition of Twitter is October 28th. According to Bloomberg, the deal between the two sides is progressing well.
It is known that the downsizing at Twitter was planned in advance. However, Musk’s scale is much larger than that plan. This stream of streamlining will seriously affect this social platform as hacking will become more common.
According to The Washington Post, the billionaire has promised investors that Twitter’s revenue will double in the next three years.
Visit Innnewyorkcity VN.com every day to read more new information!
Source: INN NEW YORK CITY