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Elon Musk discussed ‘job cuts’ on Twitter with bankers

By Nagasunder in Business News, posted April 29, 2022

Soon-to-be Twitter boss Elon Musk is said to have planned to slash positions at the social media giant to boost the company's bottom line after he takes over.

Musk addressed making "efficiencies" at the microblogging platform with bankers, according to the Washington Post, "which might involve job cutbacks."

The reports have received no response from Twitter or its CEO, Parag Agrawal.

Agrawal had told employees that there would be "no layoffs at this time" and it has been reported the company will not look at laying off staff until after Musk's takeover is complete.

However, the company's policy department, according to rumors, is one area where Musk may make employee layoffs.

Musk's dissatisfaction was evident in his recent criticism of Twitter's policy head Vijaya Gadde for blocking exclusive reports on US President Joe Biden's son Hunter's laptop in the aftermath of the Capitol Hill violence.

Meanwhile, Agrawal has stated that despite Musk's "noise" following his successful $44 billion buyouts of the firm, he and the rest of the team will continue to work to improve Twitter.

"I took this job to change Twitter for the better, course-correct where we need to, and strengthen the service. Proud of our people who continue to do the work with focus and urgency despite the noise," he posted in a tweet on Thursday, April 28.

In a leaked audiotape, Agrawal is heard telling staff that Musk will address their worries quickly after the acquisition.

"Once the deal closes, different decisions might be made. For us to gain insight into that, we'll be finding a way to have Elon talk with all of you at the soonest possible opportunity," he was quoted as saying.

Source: Tribuneindia

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