According to reports, Elon Musk‘s purchase of Twitter could come as soon as Friday (October 21). While the sale is still being settled, there are now rumors that Musk could be gearing up to lay off most of the employees at the social media company.
Reports are noting that the business magnate has told prospective investors that he will be laying off 75 percent of Twitter’s 7,500 staff. If the potential major workforce change does occur upon completion of the deal, many believe that a breakdown of the social media platform could result. The lack of working staff could cause major issues with site operations, including the ability to moderate content and ensure security. The remaining workforce would not be able to remedy the issues due to a lack of institutional knowledge.
It is also interesting to note that in internal documents, leadership at Twitter was already planning to “pare the company’s payroll” by around $800 million USD, a 25 percent workforce reduction. Aside from the 1,900 people laid off, Twitter was also planning for “a potential breakdown of the social media platform could result.
Stay tuned for more information.
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