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, 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 the office though some exceptions could be made.
Read more: Elon Musk, who runs four other companies, will now be Twitter CEO
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.
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.
Euronews Next spoke to one ex-employee at Twitter, who explained what it was like working there under its previous leadership a few years ago.
“There was this general feeling that we were doing something really essential and positive, albeit stressful and high-pressure.
Read more: Elon Musk says Twitter to form new ‘content moderation council’
“One thing I did notice while there was how kind Twitter was to its employees. Great with stuff like mental health. We got lots of perks. Very collaborative too and almost everyone working there seemed passionate about what they were doing”.
Today, we contacted a current Twitter employee for comment on the past week’s events. They replied: “Unable to talk right now, too stressed”.