Elon Musk plans to eliminate half of Twitter jobs

Employees of the U.S. social network Twitter will be notified of possible job cuts on Friday. Elon Musk and a team of advisers are considering various options for changes regarding the number of job openings and Twitter's policies. It has also been stated that downsizing terms could change.

The new owner needs to find ways to cut spendings for his new business, which, Musk believes, has a pretty high cost. The billionaire initially agreed to pay $54.20 per share in April. For a while Elon Musk  had been trying to pull out of the deal at length, claiming that the company had misled him about the prevalence of fake accounts. Twitter sued Musk to force the billionaire to honor his agreement. In the end, the American entrepreneur was forced to close the deal on agreed-upon terms. 

Twitter employees have been expecting layoffs since Musk took over the network. He immediately fired most of the management team, including CEO Parag Agrawal, CFO Ned Segal and senior lawyers Vijaya Gadde and Sean Edgett. Chief Marketing Officer Leslie Berland,Chief Customer Officer Sarah Personette, and Jean-Philippe Maheu, vice president of global client solutions, also resigned in the following days.

Bloomberg previously reported that Musk himself would take on the role of interim CEO. He also dissolved the company's management team and became sole director, saying later that this was temporary.

Over the weekend, several employees were laid off from their positions as directors and vice presidents. Other executives were asked to make lists of employees on their teams who could be cut. Senior members of the product teams were asked to cut staff by 50%.

Concerns about drastic staff cuts began to emerge ahead of the deal, when potential investors were told that Musk would cut 75% of the workforce, which was about 7,500 at the end of 2021. Musk later denied the massive nature of the cuts.