Elon Musk is likely to get rid of nearly three-quarters of Twitter workforce if he completes his $44 billion purchase of the company, the Washington Post reported on Thursday.Chances are that not only current Twitter CEO Parag Agrawal will lose his job, but Musk is also planning to fire some 5500 Twitter employees, reducing the headcount from 7500 to 2000.
According to documents obtained by the Washington Post, Musk is planning to reduce Twitter's workforce to 2,000 to save operational costs. If the deal goes through, the Tesla CEO may also consider trimming its infrastructure, including data centres that keep the platform afloat that caters to over 200 million users. The report adds that Musk is eager to close the $44 billion deal by the end of this month. While this may upset many employees at the company, investors are potentially happy since Twitter is not making big profits in comparison to rivals like Meta and Snap. The Post highlights that Musk told associates he thinks "dramatically slimming down the company is the first step" to executing a turnaround strategy. Edwin Chen, a former Twitter executive, told the publication that Twitter was overstaffed, though the cuts Musk proposed were "unimaginable".
Once Musk acquires Twitter, it is almost certain that its current CEO Parag Agrawal will leave the company. And if he doesn't for some reason, he is almost certain to be fired by Elon Musk.This is because, as hinted by the texts filed in the US court ahead of the Twitter-Musk trial, there is no love lost between Musk and Parag. In fact, after investing in Twitter -- but before announcing his bid to buy it -- Musk and Parag exchanged a couple of texts that clearly hint at the rift. Musk, as indicated by his texts, doesn't believe that Parag is the kind of person who can manage Twitter.