The social media platform, Twitter on Thursday clarified to staff that there are no plans for company-wide layoffs since it signed a deal to be acquired by Elon Musk.
Twitter General Counsel Sean Edgett emailed employees saying that the company does not plan layoffs. There has been news that there will be mass layoffs post the Elon Musk takes over the company.
Earlier this month, Musk reversed course and said he will proceed with the deal on the original terms. The Washington Post earlier reported that Elon Musk said that he is planning to lay off nearly 75% of Twitter’s staff as he takes over the social media company.
The reports said that job cuts are expected in the coming months, no matter who owns the company. However, Twitter’s current management has planned to lay off 25% of the staff by the end of next year. The reports, on the other hand, have revealed that Elon Musk wants to reduce Twitter’s 7,500 employees.
It was reported through an internal memo circulated by Twitter said there were “no plans for any company-wide layoffs”. According to the report, Job cuts are expected in the coming months.
Earlier in July, The company said that it had already “significantly slowed hiring” due to the economic downturn in the tech industry.
Human resources staff at the social media company have told employees that they were not planning for mass layoffs, but documents showed extensive plans to push out staff and cut down infrastructure costs were already in place before Musk offered to buy the company, the Washington Post reported.