Elon Musk Plans To Fire Nearly 75% Of Twitter Employees

Billionaire Elon Musk plans to fire nearly 75% of Twitter employees, according to a Washington Post report. He told prospective investors in his deal to buy Twitter Inc that he planned to get rid of those employees.

According to the report, job cuts are expected in the coming months, no matter who owns the social media company. Human resources staff at Twitter have reportedly told employees that they were not planning for mass layoffs.

Earlier this year, Musk made a bid to buy the social media company for $44 billion. However, he tried to walk away from the deal in May alleging that the social media company understated the number of bot and spam accounts on the micro-blogging site, which started a series of lawsuits between Musk and Twitter.

Twitter sued Musk to complete his deal. Later on, Musk sued Twitter, alleging that there are numerous fake accounts on the social media platform. The world’s richest man reportedly said he needed more time to get the financing in order.

Earlier this month, Twitter said in a statement, “We look forward to closing the transaction at $54.20 by October 28th.” Musk agreed to take over Twitter INC for a $44 billion deal, which means Musk agreed to acquire the company for $54.20 a share. Musk’s legal team accused the social media platform of giving false information about “spam bot” accounts on the micro-blogging site.

However, Musk reversed course and said he will proceed with the Twitter deal on the original terms. Tesla's CEO is currently under a federal investigation related to his $44 billion takeover deal.

Recently, the Tesla CEO was in the limelight over his latest tweets. In the tweet, he explained why air turbulence was not a big deal. He said, “People should never fear turbulence. Commercial airliner wings can handle insane amounts of bending.”