[1/2] Elon Musk's photo is seen through a Twitter logo in this illustration taken October 28, 2022. REUTERS/Dado Ruvic/Illustration
Nov 2 (Reuters) - Elon Musk plans to cut about 3,700 jobs at Twitter Inc or half of the company's workforce in a bid to cut costs, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Twitter's new owner will inform the staff affected on Friday, according to the report.
Bloomberg also reported that Musk intends to reverse the social media company's existing work from anywhere policy and will require employees to work from office though some exceptions could be made.
Musk, in a tweet, had denied a New York Times report that said he was planning to lay off Twitter employees before Nov. 1 to avoid stock grants due on the day. read more
Twitter did not immediately respond to a Reuters request for comment.
Reuters had reported earlier this week, citing sources that Musk plans to cut a quarter of Twitter's workforce as part of a first round of layoffs at his recently acquired company. read more
Reporting by Sneha Bhowmik in Bengaluru; Editing by Rashmi Aich
Our Standards: The Thomson Reuters Trust Principles.
CharacterBroccoli328 on November 3rd, 2022 at 01:37 UTC »
Just change the name to Bitter.
pinkygonzales on November 3rd, 2022 at 01:16 UTC »
Three days ago it was 75%. Yesterday it was 25%. Today it's 50%. All that matters is that everybody working for Twitter is looking for a new job right now, and RIP to those that have trouble leaving. What a shit-show.
funkymunkPDX on November 3rd, 2022 at 01:07 UTC »
Wait I thought Billionaires CREATED jobs?