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Twitter Poised for Big Layoffs - Report

FILE: A sign is pictured outside the Twitter headquarters in San Francisco, Wednesday, Oct. 26, 2022.

Twitter, which was acquired last week by billionaire Elon Musk, plans to let go of a quarter of its workforce as part of what is expected to be a first round of layoffs, the Washington Post reported on Monday, citing a person familiar with the matter.

The word of mass redundancies came in the week following the world's richest person's takeover of the social media platform, from which he immediately sacked top executives and cleaned out its board of directors, becoming Twitter's CEO.

Musk fired Twitter Chief Executive Parag Agrawal, Finance Chief Ned Segal and Legal Affairs and Policy Chief Vijaya Gadde on completion the $44 billion buyout, sources told Reuters.

Twitter had over 7,000 employees at the end of 2021, according to a regulatory filing and a quarter of the headcount amounts to nearly 2,000 employees.

Musk denied a New York Times report about laying off Twitter employees at a date earlier than Nov. 1 to avoid stock grants due on that day.

Along with mass sackings, Musk has also discussed the possibility of restoring persons banned from the platform. But nothing specific has been said about restoring access to former U.S. President Donald Trump, who was booted from Twitter after the January 6 attack upon the U.S. Capitol by his supporters.