Report says Musk to fire 75% Twitter staff, company says 'Wait for facts from us'

Washington, Oct 21: Tesla CEO Elon Musk reportedly intends to lay off 75 per cent of Twitter's workforce once his USD 44 billion deal for the social network goes through, according to a report in Washington Post.

However, the company, denying the reports, told its employees that it does not have such plans and expect "tons of public rumors and speculation" as the closing of the deal nears, a Bloomberg report said.

Earlier a report in Variety said that Musk, at the third-quarter 2022 earnings call on Wednesday, had informed potential investors in the Twitter deal that he intended to lay off about 75 per cent of the social media company's 7,500 employees.

However, Twitter General Counsel Sean Edgett has denied the reports and told the employees that the they do not have any confirmation about the lay off.

"We do not have any confirmation of the buyer's plans following close and recommend not following rumors or leaked documents but rather wait for facts from us and the buyer directly," he said, according to a memo seen by Bloomberg News.

Musk is set to close the deal by October 28.

After spending three months attempting to back out of the deal, Musk agreed to go forward with his original USD 54.20/share offer for Twitter earlier this month.

Earlier this month he had agreed to go forward with his original USD 54.20/share offer for Twitter, after spending three months attempting to back out of the deal. "Although, obviously, myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter in my view is an order of magnitude greater than its current value," Musk said.