According to Bloomberg, Elon Musk wants to eliminate half of Twitter’s workforce on Friday to reduce costs and decrease the debt resulting from him “overpaying” for the company.
A recent report from Bloomberg states that Elon Musk plans to tell half of Twitter’s employees that Friday will be their last day on the job. The move comes as an effort by Musk to lower costs and reduce his debt from “overpaying” for the company.
After assuming control as ‘Chief Twit,’ the billionaire immediately fired several top-level employees including CEO Parag Agrawal and censorship queen Vijaya Gadde. As Breitbart News reported this week, Musk fired the executives “for cause” to avoid paying out their golden parachutes. According to the report, he continued the layoffs over the weekend while directors were asked to make lists of protentional employees to be laid off.
According to the source, the plans are still subject to change, and one option being considered is a two-month severance package for terminated employees. Sources told the outlet that senior personnel on the product teams were ordered to cut 50 percent of their staff in an effort to reduce costs.
Musk has now declared himself the “Twitter Complaint Hotline Operator” and will establish a return-to-office policy for the company’s San Francisco headquarters employees — a reversal of Twitter’s current policy that allows workers to work from anywhere.
Breitbart News recently reported that Musk has said that he wants to charge for Twitter’s verification checkmark, initially saying this would cost $20 a month. He has since backtracked, offering the service for $8 a month after leftists including Stephen King melted down over the price.
Read more at Bloomberg here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan