According to The Washington Post, 75 percent of the people who work at Twitter can expect to be let go. Prospective investors have been told by Musk that he plans to fire a lot of people.
By October 28th, Musk has a deadline. In a sign that the deal is moving forward, the equity awards of its employees were frozen. The deal is moving forward according to anonymous sources.
There were planned job cuts. Almost a quarter of the workforce was planned to be cut before Musk came along. According to The Post, Musk's planned cuts are "unimaginable." It's likely that users would notice immediately as they are likely to see more hacks. The practice of stack ranking was discontinued at Microsoft because it contributed to a bad culture.
A general partner at one of the firms involved in the deal told Business Insider that they are all trying to get out of it. The plan is to double revenue in three years.
Several big names in private equity have passed on the deal. The founder of LinkedIn didn't invest, but he did hook Musk up with a Microsoft CEO. The Post reported that the signature venture firm of Peter Thiel passed.
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