According to Twitter, it will let its employees know on Friday whether they will be let go as a result of Elon Musk’s acquisition of the company.
The social media giant claimed in an internal memo that the layoffs are “an effort to place Twitter on a healthy path.”
The company also stated that credential access would be suspended and that its offices would be temporarily closed.
The multi-billionaire, who acquired Twitter last week for $44 billion (£39.3 billion), will serve as its CEO. To “help secure the safety of each employee as well as Twitter systems and customer data,” the business said workplace access will be immediately restricted. By 9:00 Pacific time (16:00 GMT) on Friday, all employees are expected to get an email with the subject “Your Role at Twitter.”
According to Twitter, unaffected employees will be informed via business email.
The “next steps” will be announced to people who are impacted through their accounts in the interim.
According to prior reports in US media, Mr. Musk planned to eliminate 3,700 workers or roughly half of Twitter’s workforce.
According to Bloomberg, which cited unnamed sources, certain senior staff members were requested to compile lists of team members who would be let go.
There are rumors that up to half of Twitter’s 8,000 jobs could be eliminated.
However, Elon Musk is known for being harsh with his employees.
It’s unclear how the platform’s operations will be impacted by the workforce reductions. US publications have already mentioned the long hours some employees put in to meet Mr. Musk’s expectations after the takeover.
Mr. Musk claimed in May that his demands for a strong work ethic would be “severe,” but lower than what he set for himself.
Following the acquisition deal, nine of Twitter’s board members left the organization, leaving self-described “Chief Twit” Mr. Musk as the only remaining director.
The action was perceived as solidifying Mr. Musk’s grip over the business.
Bret Taylor, chairman, and Parag Agrawal, chief executive, were among those departing.