The Washington Post stated that a $44 billion purchase of Twitter by billionaire Elon Musk may result in a wave of significant layoffs within the firm.
According to the Post, when pitching his plan to buy Twitter to investors, Musk stated that he intended to lay off close to three-quarters of the company’s workforce, bringing its headcount to just over 2,000.
Even if Musk’s proposal to acquire Twitter falls through, the business still plans to eliminate nearly $800 million from its payroll by the end of next year, according to the newspaper, which would result in the layoff of about a quarter of its employees.
According to the Post, which cited interviews and papers, staff reductions at the San Francisco-based corporation would probably make it more difficult for the platform to police offensive remarks and maintain data security.
Despite Musk’s attempts to back out of the takeover agreement, Twitter had filed a lawsuit to enforce the terms of the agreement.