Elon Musk reportedly begins firing Twitter workers

10/29/2022

Per the Verge:

Elon Musk reportedly ordered company-wide layoffs at Twitter on Saturday, according to a report from The New York Times.

It’s unclear how many workers will be affected by the purported job cuts, but sources told the NYT that some departments will be affected more than others. Previous reports indicate Musk wants to cut down on Twitter’s workforce by 75 percent. Twitter currently has about 7,500 employees.

As noted by the NYT, the layoffs could occur before November 1st, the day when employees are supposed to receive their stock grants, which “typically represent a significant portion” of their pay. Musk may not have to pay these grants if he lays off employees before this date. Sources familiar with the situation told the outlet that some managers have been asked to come up with lists of employees to let go.

On Friday, Musk completed his $44 billion acquisition of Twitter, and subsequently fired numerous executives, including former CEO Parag Agrawal, chief financial officer Ned Segal, and policy chief Vijaya Gadde.

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