Laura Normand / The Verge
Elon Musk ordered company-wide layoffs at Twitter on Saturday, according to a report from The New York Times. Itâs unclear how many workers will be affected by the purported job cuts, but sources tell the NYT that some departments will be affected more than others.
Previous reports indicate Musk wants to cut down on Twitterâs workforce by 75 percent, although he reportedly told employees otherwise when he arrived at the companyâs headquarters carrying an actual sink on Wednesday. Twitter currently has about 7,500 staff members, and as noted by the Times, some managers have been asked to come up with lists of employees to let go.
The layoffs could occur before November 1st â the same day when employees are supposed to receive their stock grants, which âtypically represent a significant portionâ of their pay. According to the NYT, Musk may not have to pay these grants if he lays off employees before this date. Twitter didnât immediately respond to The Vergeâs request for comment.
Musk completed his $44 billion acquisition of Twitter on Friday, and fired numerous executives, including former CEO Parag Agrawal, chief financial officer Ned Segal, and policy chief Vijaya Gadde, upon assuming ownership. The billionaire first offered to buy Twitter back in April, and later attempted to back out of the deal before changing his mind again earlier this month.
Itâs not entirely clear what Musk plans on doing with Twitter once the dust settles, but he recently stated he wants the site to become a âcommon digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.â Musk, a self-labeled âfree speech absolutistâ has had users concerned about the future of content moderation on the platform, but says he wonât let it become a âfree-for-all hellscape,â and plans on establishing a content moderation council.