Elon Musk Has Made A Move That Signals The Twitter Purge Is On The Way…

The new Twitter CEO Elon Musk will start a massive laying off of Twitter employees on Friday in his effort to make the company profitable.

In an effort to reduce costs, Musk plans to cut around 3,700 workers at Twitter, or 50% of the workforce, according to Bloomberg sources. Twitter’s new owner intends to inform impacted employees on November 4. The remaining staff will be asked to go to offices as Musk also plans to alter the company’s current work-from-anywhere policy.

Sources say that some exceptions may still be granted.

According to reports, Musk has to find methods to reduce the expenditures of a company that he claims he overpaid.

Back in April, just as markets began to decline, the billionaire committed to paying $54.20 per share. He then allegedly claimed that the corporation had deceived him about the popularity of bogus accounts while he tried for months to back out of the transaction. In recent weeks, Musk gave in and decided to close the purchase under the predetermined terms after the San Francisco-based company had filed a lawsuit to ensure Musk fulfilled his commitment.

Last week, senior members of the product teams were instructed to aim for a 50% workforce cut, a person with knowledge of the situation claimed. The names were examined by engineers and directors at Tesla, also led by Musk. According to the sources, layoff lists were created and ranked based on employees’ contributions to Twitter’s code while they were employed by the firm.

The specifics of the workforce reduction might yet alter as Musk and a group of advisers considered several options for job cutbacks and other policy changes at Twitter. Two of the people stated that in one scenario, those who are laid off will be provided with 60 days’ worth of severance money.

The news comes after initial reports suggested that Musk could cut up to 75% of the company’s workforce, though subsequent reports suggested that the number could be as low as 25%.

The details regarding the dismissal of the employees were not immediately clear, although the report said that Musk was considering paying them up to two months of severance pay.

More details of this report from Daily Wire:

Musk began his new reign at the company by firing leftist CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety, The Washington Post reported. The report said Musk also fired the company’s general counsel, Sean Edgett, who was escorted out of the building.

Sources: DailyWire, WashingtonPost, Bloomberg, NYtimes