https://sputnikglobe.com/20221021/twitter-reportedly-tells-workers-not-to-believe-rumors-of-layoffs-after-musk-acquisition-1102518371.html
Twitter Reportedly Tells Workers Not to Believe Rumors of Layoffs After Musk Acquisition
Twitter Reportedly Tells Workers Not to Believe Rumors of Layoffs After Musk Acquisition
Sputnik International
WASHINGTON (Sputnik) - Twitter told employees to be on the alert for rumors about the company amid a looming acquisition by billionaire entrepreneur Elon Musk... 21.10.2022, Sputnik International
2022-10-21T22:24+0000
2022-10-21T22:24+0000
2023-04-14T12:57+0000
science & tech
layoffs
elon musk
acquisition
x (formerly twitter)
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The warning comes following US media reports on Thursday purporting that Musk plans to slash the social media company’s workforce by nearly 75%, from approximately 7,500 workers to just over 2,000.Twitter’s current management likewise plans to reduce the company’s payroll by approximately $800 million by the end of 2023, setting up nearly a quarter of the workforce to be cut, the Thursday report also said.In response, Twitter general counsel Sean Edgett sent an email to the company’s employees warning them about “rumors and speculation,” the report said, citing a copy of the email confirmed accurate by a Twitter spokesperson.Twitter does not have any confirmation of Musk’s plans following completion of the acquisition deal and advises workers to wait for facts from the company and Musk directly, Edgett said.Musk’s acquisition of Twitter, first announced in April, has faced months of delays over lawsuits related to concerns by Musk about the number of fake accounts on the platform. Earlier this month, Musk said he would go through with the deal as part of a larger plan to create "X, the everything app."It is not clear when the purchase will be finalized, but a Delaware state judge gave the two parties until October 28 to settle their differences, lest they face a trial on the matter in November, the report added.
https://sputnikglobe.com/20221021/heads-will-roll-twitter-workforce-to-face-major-cuts-regardless-of-whether-musk-acquires-company--1102482301.html
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science & tech, layoffs, elon musk, acquisition, x (formerly twitter)
science & tech, layoffs, elon musk, acquisition, x (formerly twitter)
Twitter Reportedly Tells Workers Not to Believe Rumors of Layoffs After Musk Acquisition
22:24 GMT 21.10.2022 (Updated: 12:57 GMT 14.04.2023) WASHINGTON (Sputnik) - Twitter told employees to be on the alert for rumors about the company amid a looming acquisition by billionaire entrepreneur Elon Musk, who reportedly plans to downsize the company’s workforce by nearly 75%, NBC News reported on Friday.
The warning comes following US media reports on Thursday purporting that Musk plans to slash the social media company’s workforce by nearly 75%, from approximately 7,500 workers to just over 2,000.
Twitter’s current management likewise plans to reduce the company’s payroll by approximately $800 million by the end of 2023, setting up nearly a quarter of the workforce to be cut, the Thursday report also said.
In response, Twitter general counsel Sean Edgett sent an email to the company’s employees warning them about “rumors and speculation,” the report said, citing a copy of the email confirmed accurate by a Twitter spokesperson.
Twitter does not have any confirmation of Musk’s plans following completion of the acquisition deal and advises workers to wait for facts from the company and Musk directly, Edgett said.
21 October 2022, 03:03 GMT
Musk’s acquisition of Twitter, first announced in April, has faced months of delays over lawsuits related to concerns by Musk about the number of fake accounts on the platform. Earlier this month, Musk said he would go through with the deal as part of a larger plan to create "X, the everything app."
It is not clear when the purchase will be finalized, but a Delaware state judge gave the two parties until October 28 to settle their differences, lest they face a trial on the matter in November, the report added.
