Musk’s Twitter finalizes list of 3,700 employees to be laid off this week: report

KEY POINTS

  • Twitter VPs Reportedly Asked To Compile Lists Of Employees To Be Laid Off
  • Musk and former PayPal executive meet with advisers to discuss layoffs
  • Hundreds of employees had already left Twitter before Musk acquired the company

Twitter is finalizing a list of employees to lay off after Tesla CEO Elon Musk acquired the social media platform, a new report revealed on Wednesday. It was earlier reported that Musk planned to cut up to 75% of the San Francisco-based company’s total workforce.

About 3,700 employees have been singled out for layoff as part of Musk’s Twitter purge that could take place by the end of the week, two people with knowledge of the matter and an internal post viewed by Insider revealed. Additionally, the list identified employees who can get severance pay after the mass layoff, according to the outlet.

The layoffs are expected to take place as early as Friday noon, the sources told Insider. The outlet asked a Twitter spokesperson for comment on the report, but has not received a response so far.

Shortly after Musk’s official acquisition of the social media site, Twitter vice presidents were asked to compile lists of people who could be removed from their jobs, an earlier report from the outlet revealed.

If the layoffs took place, they would represent around 50% of the beleaguered company’s total cut workforce. In September, the membership stood at 7,500, according to Insider.

Several Twitter employees also told The Verge’s Alex Heath that they saw a discussion on Slack on Wednesday that the company planned to cut “approximately 3,800 employees.”

Musk, along with former PayPal executive David Sacks, are on the slate for a meeting with advisers to consider upcoming layoffs, according to details from a screenshot of a calendar event Heath has obtained.

Days after closing the deal to acquire the social networking platform, Musk disbanded the board, a security filing revealed. Reports later surfaced that the 51-year-old tech billionaire had fired then-CEO Parag Agrawal and a few other executives.

Musk has yet to comment on the supposed massive layoff plan, but since he took office hundreds of employees have since left the company, according to a report by Elizabeth Gafford and Greg Larkin of Punks & Pinstripes. .

According to data from LinkedIn, 530 Twitter employees left the company in the past three months and 159 moved to Meta or Google, the report noted.

Shortly after Musk acquired Twitter last week, he was photographed at the headquarters coffee bar, surrounded by employees.

It’s unclear whether Musk will actually cut 50% of Twitter’s workforce, but he denied a New York Times report about firing people to avoid providing stock grants to workers as part of their compensation.

Is the new Twitter ready to lay off thousands of employees?

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