More cuts are coming at Twitter —big cuts.
According to a Bloomberg report, new Twitter CEO Elon Musk is planning to cut 3,700 jobs at the social media giant and insist remaining employees return to the office; Musk will make his move on Friday, according to the report.
From The Hill:
Senior personnel on the product teams have been asked to target a 50 percent reduction in headcount, the publication reported, and layoffs have been drawn up based on an employee’s contributions to coding.
The new owner of Twitter has not finalized how many jobs exactly will be cut, and he may allow laid-off workers to earn up to 60 days’ worth of severance pay, according to Bloomberg. Musk is also reportedly considering reversing a work-from-anywhere policy.
The billionaire completed his purchase of Twitter last week for $44 billion and became the sole owner of the company, dissolving the board.
More over at The Hill:
— The Hill (@thehill) November 3, 2022