Elon Musk has decided to go ahead with his deal to purchase Twitter after initially backing out of it. Musk wants to run the company his way and he already has a plan. Tesla CEO reportedly wants to make drastic changes to Twitter’s staff after he assumes full control over the platform.
According to The Washington Post, Musk notified potential investors that he is considering laying off approximately 75% of Twitter’s entire workforce, bringing the total number of employees down from 7,500 to a little over 2,000.
The outlet noted that Twitter had already planned to reduce the current workforce by 25 percent before Musk’s proposal to purchase the company. The company was looking to layoff employees by the end of 2023, cutting payroll by about $800 million.
Musk, 51 is expected to close his deal to purchase Twitter by Oct. 28. The SpaceX and Tesla CEO agreed to buy the platform for $44 billion in April this year. However, in the following month, Musk put his acquisition on hold to investigate the inner workings of the company.
Twitter then filed a lawsuit against Musk, in hopes of compelling him to follow through with the acquisition. Earlier this month, Musk withdrew his countersuit against the platform and decided to go ahead with the original deal.
Thoughts on Musk acquiring Twitter? Let us know in the comments!