'When Musk comes to power, there must be a lot of changes.'
Twitter Inc is reportedly planning to cut 75% of the company's workforce with Elon Musk set to complete a $44 billion acquisition of the 'blue bird' firm soon.
According to Washington Post sources, Musk told investors about his plans to lay off nearly 3/4 of Twitter's 7,500 employees once he takes over the company.
This matter according to Twitter is not something new as the company is indeed planning to reduce its workforce based on previous reports.
At that time, the management of Twitter said it would make layoffs to balance the $800 million salary allocation fund set by the company.
According to a Twitter spokesperson, the company is not planning a large-scale disposal but a gradual one, but with Musk seen to be about to complete the purchase, there is a possibility of change.
It is widely known that Musk is currently in the process of completing the purchase of Twitter after a court ordered the billionaire to complete the $44 billion acquisition.
The conflict that occurred may have an impact on Musk as soon as he becomes the owner of the company later.
As of this writing, Twitter shares are trading 1.18% higher at $52.44 with a market capitalization of $40.13 billion.
