Nov 1, 2022
Twitter to lay off 25% of workforce in first round of job cuts
Nov 1, 2022
Twitter, which was acquired last week by billionaire Elon Musk, plans to let go of a quarter of its workforce as part of what is expected to be a first round of layoffs, the Washington Post reported on Monday, citing a person familiar with the matter.
Celebrity lawyer Alex Spiro, a long-time Musk legal representative, led the conversations about the job cuts, according to the report.
Twitter had over 7,000 employees at the end of 2021, according to a regulatory filing and a quarter of the headcount amounts to nearly 2,000 employees.
Musk denied a New York Times report about laying off Twitter employees at a date earlier than Nov. 1 to avoid stock grants due on the day.
Twitter did not immediately respond to a Reuters request for comment.
Musk fired Twitter Chief Executive Parag Agrawal, Finance Chief Ned Segal and Legal Affairs and Policy Chief Vijaya Gadde on completion of a six-month $44 billion buyout saga of the social media platform on Thursday, sources told Reuters.
© Thomson Reuters 2023 All rights reserved.