According to reports, Elon Musk told potential investors that he plans to reduce Twitter’s workforce by almost 75% once he takes over the social media giant.
According to interviews and documents obtained by the Washington Post, the billionaire mogul wants to cut the workforce to around 2,000 workers from 7,500.
Musk shared the plans to convince investors to finance his $44 billion acquisition of the company. He has apparently had difficulty funding.
Twitter is likely to see big changes as Musk emphasizes free speech. Many employees have already left the platform and are worried about what the future holds for the company.
Musk stated in an Oct. 4 email that he would continue with the deal once he has received the financing. This is a complete reverse of his earlier decision to withdraw from the agreement. A judge stopped the trial in a Twitter lawsuit to allow the deal to proceed.
Twitter and Musk have until October 28th to complete the details of their takeover deal or face having to go back to court.
According to the report, Musk stated that Twitter had not responded to a request for comments.