The Washington Post reported on Thursday, citing interviews and records, that billionaire Elon Musk informed potential investors in his attempt to buy Twitter Inc and intended to fire about 75% of Twitter’s 7,500 employees.
Twitter in an email to its employees said it does not have any company-wide layoff plans as the microblogging platform signed a deal to be acquired by Tesla chief Elon Musk, according to news agency Reuters.
According to a source who viewed the email, Twitter General Counsel Sean Edgett emailed employees on Thursday saying the company does not plan layoffs.
Meanwhile, both parties are engaged in paperwork for the takeover agreement to be completed by the October 28 court-imposed deadline, according to people familiar with the subject quoted by Bloomberg.
