Bloomberg News reported on Wednesday, citing people familiar with the matter, that Elon Musk plans to cut about 3,700 jobs at Twitter Inc, or half the company’s workforce, to cut costs.
The new owner of Twitter will reportedly notify affected employees on Friday.
Bloomberg also reported that Musk intends to reverse the social media company’s existing work-from-anywhere policy and will require employees to work from the office, although there may be some exceptions.
In a tweet, Musk denied a New York Times report that he planned to lay off Twitter employees by Nov. 1 to avoid stock grants due that day.
Twitter did not immediately respond to Reuters’ request for comment.
Reuters reported earlier this week, citing sources, that Musk plans to cut a quarter of Twitter’s workforce as part of the first round of layoffs at the company he recently acquired.
(Apart from the title, this story was unedited by NDTV staff and was posted from a syndicated feed.)
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