The New York Times reported that Musk ordered layoffs at the company. Sources tell the New York Times that some departments will be affected more than others by the job cuts.
According to previous reports, Musk wants to cut down on the number of employees at the company by 75%. According to the Times, some managers have been asked to come up with a list of employees to let go at the company.
The same day when employees are supposed to receive their stock grants, the layoffs could happen. If Musk lays off employees before this date, he won't have to pay the grants. The company didn't reply to the request for comment.
After taking ownership of the company, Musk fired several executives, including the former CEO, Parag Agrawal. The billionaire tried to back out of the deal earlier this month, after initially agreeing to buy the company.
Musk recently stated that he wants the site to become a "common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence." Users have been concerned about the future of content moderation on the platform, but Musk says he won't let it become a "free-for-all hellscape."
All Rights Reserved © 2024
