According to a report published by Bloomberg on November 2, Elon Musk is planning to lay off around 3,700 Twitter employees, which would amount to approximately half of the overall workforce. Perhaps as extra salt in the wound, the remaining workers will be required to start working in the office again, as the sources allege that Musk will end Twitter’s work anywhere policy.
The sources go on to claim that various potential layoff scenarios are being explored and that there’s no single one in place yet. One scenario may involve the laid-off employees — who will reportedly learn of their fate on Friday — getting 60 days of pay as a severance. Beyond that, Bloomberg reports that a small number of Twitter employees have already been removed from the workforce; remaining leaders have reportedly been given the difficult job of deciding which people on their teams can be cut.
Some senior Tesla employees are said to have joined the Twitter managers in reviewing which workers will be removed from the workforce, and the basis for such decisions reportedly includes, in some cases, things like how much code they contributed while employed at Twitter. The move is ultimately said to be a cost-cutting measure that’ll remove redundancies and help the company in its uphill battle to make a profit — something it has rarely achieved (via The New York Times).