The purchase of Twitter by Elon Musk will see the workforce of the company cut by 75%, according to the latest report from Bloomberg. The news comes as Musk and Twitter inch ever closer to the closing of the deal, with plans to get it done by Oct. 28, the deadline put in place by a Delaware judge in the case of Twitter V Musk.
Musk’s plan to cut the workforce by 75% is part of his plan to double revenue in three years following the buyout. Twitter currently employs almost 7,500 people, with the cut to staff expected to remove around 5,500 employees from the company. The move will be a problematic one for the team at Twitter. Executives of Twitter initially planned to lay off 25% of employees before making a U-turn on the decision once Musk’s purchasing deal was agreed upon.
Sources speaking to Bloomberg also elaborated on Musk’s plans to ease content moderation on the site. Musk has previously expressed his belief to use the site as a free speech “town square” platform, which would lessen censorship and is expected to result in the reintroduction of former President Donald Trump to the site. Trump was banned from Twitter for incitement of violence after the storming of the Capitol on Jan. 6, 2021.
Musk was previously hesitant to follow through with his $44 billion offer for the social media giant, claiming that the site had too many bots to justify the purchase. A court case by Twitter against Musk ended with a deadline for the two parties to close a deal by Oct. 28 or face new trials in the following month. If the deal goes through, the Biden administration is said to be concerned for its impact on national security.
Are you in favor of Musk’s purchase of Twitter? Let us know in the comments below, and keep your eyes on TeqLuster for the latest tech news.