Musk’s Twitter to conduct first round of 25% layoffs in few days: Report

According to the report, people familiar with the matter said today that after the successful acquisition of Twitter, Elon Musk will make its first round of layoffs in the next few days, 25% of Twitter employees are expected to be affected.

This past weekend, members of Musk’s inner circle got together with the rest of Twitter’s executives to detail how Twitter’s content should be moderated, as well as plans for the first round of 25 percent layoffs.

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The discussion was led by Alex Spiro, an attorney representing Musk. Spiro is currently actively managing several teams at Twitter, including legal, government relations, policy, and marketing, the people said.

Elsewhere, Musk’s longtime pals David Sacks and Jason Calcanis have appeared on Twitter’s roster. Currently, both have official Twitter emails and both have the title “Senior Software Engineer.” Musk is also on the list, with the title CEO, although the position has not been publicly announced.

Meanwhile, the Spiro team is planning Twitter’s first round of layoffs. Twitter currently has more than 7,000 employees, and the first round of layoffs will reach about 25%, one of the people said. The layoffs will affect nearly all departments and are expected to impact sales, product, engineering, legal, and trust and safety teams over the next few days.

In addition to engineers, Twitter’s highest-paid employees are concentrated in sales, some of whom make more than $300,000 a year, according to a document seen by the media.

It was previously reported that layoffs are expected to begin by Nov. 1, with Twitter employees receiving additional stock-related compensation. But Musk tweeted on Sunday: “Reports that Twitter is laying off workers next week are false.”

Earlier this year, Musk said he planned to cut about 75% of Twitter’s workforce. This means that the company will have only about 2,000 employees left. But last week, Musk told employees during a visit to Twitter’s headquarters that 75% of the workforce would not be cut. A person familiar with the matter said that the final total layoffs may be closer to 50%.

At present, Musk has fired four senior Twitter executives, including CEO Parag Agrawal, CFO Ned Segal, and legal affairs and policy director Vijaya Gadde.

(via)