Twitter CEO Elon Musk has plans to eliminate 3,700 jobs, or 50% of the workforce, at the social media platform in a measure aimed at cutting costs.
What Happened: The Tesla Inc (NASDAQ: TSLA) CEO, also Twitter’s new owner, will inform staff of the coming redundancies on Friday, Bloomberg reported, citing people familiar with the matter.
Also on the chopping block is Twitter’s work-from-anywhere policy and the remaining employees will be asked to report to offices with some exceptions, as per the report.