layoffs | 

Elon Musk to announce ‘thousands’ of job losses at social media giant Twitter

Elon Musk's photo is seen through a Twitter logo in this illustration Photo: Reuters/Dado Ruvic© REUTERS

Vishwam SankaranUK Independent

Twitter’s new boss Elon Musk will begin massive layoffs at the company on Friday, days after closing the deal to buy the social media giant for $44 billion.

Thousands of employees at the company may lose their jobs, with staff notified about the layoffs in an email on Thursday, according to multiple US media reports.

“Team, In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” the internal memo to the employees noted.

“We recognize that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success moving forward.”

Mr Musk has already made several changes to the company, starting with the firing of three of its top executives, including chief executive Parag Agrawal.

He had earlier told prospective investors that he intended to reduce the company’s staff from around 7,500 down to just over 2,000.

Bloomberg reported on Thursday that he planned to cut about 3,700 jobs at Twitter – about half the company’s workforce.

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