Twitter has no plans for major layoffs after Elon Musk deal is closed

Twitter's General Counsel, Sean Edgett, warned employees that a lot of public rumor and speculation is expected as the deal closes. Sean Edgett said Elon Musk had no confirmed post-deal plans at this time. The General Counsel of Twitter advises not to believe the rumors or leaked documents, but to wait for the information from the company and Musk directly.

According to The Washington Post, Musk's plan for Twitter calls for a 75% cut in staff over several months. The deal to buy the social network is due to close on October 28th. After that, Elon Musk might reduce Twitter's staff to around 2,000 people, compared with the 7,500 currently employed by the company.

Bloomberg News confirmed that potential investors were told ahead of time about the plan for layoffs, in an attempt to double revenue within three years.

In his memo, Edgett stated that cost savings were discussed earlier in the year. These discussions, according to Sean Edgett, ceased after the merger agreement was signed. According to Edgett, there has been no major layoff plan since the conclusion of the agreement.