Elon Musk will terminate approximately 75% of Twitter workers

• Twitter’s current management wanted to cut the company’s payroll by about $800 million by the end of next year.
• This would mean that nearly a quarter of the employees would have to leave.
• Documents show that plans were already in place to get rid of staff before Musk offered to buy the company.

The billionaire Elon Musk told potential investors in his plan to buy Twitter Inc. that he planned to fire nearly 75% of the company’s 7,500 workers, The sources reports on  Thursday, citing interviews and documents.

A report said that Twitter’s current management wanted to cut the company’s payroll by about $800 million by the end of next year. This would mean that nearly a quarter of the employees would have to leave.

Human resources staff at the social media company told employees that they were not planning to lay off a lot of people, but documents showed that a lot of plans were already in place to get rid of staff and cut down on infrastructure costs before Musk offered to buy the company, the Washington Post said.

A request for comment from Reuters was not answered right away by Twitter.

In May, Musk attempted to back out of his agreement to purchase Twitter, claiming the business had exaggerated the amount of spam and bot accounts on the social media network. This initiated a series of lawsuits between Musk and Twitter.

Musk changed his mind earlier this month and said he will go through with the deal on the same terms as before.

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