US media: Musk officially takes over Twitter, plans to lay off company-wide employees as early as this weekend

The New York Times reported on October 29 that after completing the acquisition of Twitter, Musk plans to start layoffs across the company as early as Saturday local time, people familiar with the matter said. It is reported that managers have been asked to make a list of layoffs.

According to the report, the layoffs will take place before November 1, local time, when the laid-off employees will receive stock grants. Twitter currently has 7,500 employees, and the scale of the layoffs is not yet known.

According to Bloomberg, people familiar with the matter have previously revealed that Musk plans to cut 75% of his workforce after the acquisition. It is reported that Musk appeared at the company’s San Francisco headquarters in the middle of this week, before officially taking over Twitter, to address Twitter employees, denying the claim that 75% of the workforce will be cut.