According to recent reports Tesla’s Chief Executive Officer (CEO); Elon Musk’s decision to go ahead with his purchase of social media giant; Twitter, would result in a wild spread lose of jobs to in its employees.
An exclusive released by The Washington Post revealed that Billionaire; Elon Musk had stated to a number of potential investors that along with his deal to purchase Twitter, he would layoff around seventy five (75) percent of its entire workforce of 7,500 employees. The Washington Post which is an American daily newspaper published in Washington, D.C. cited documents and interviews as its sources.
According to The Washington Post the president management board of the social media company; Twitter was looking to cut down its salaries by around 800 million United States Dollars (which translates to around 95.9 billion Kenyan Shillings when converted) by the end of next year; 2023. It stated that this was according to interviews and corporate documents involving people who are knowledgeable on Twitter’s considerations.
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On Thursday the 20th of October 2022 Twitter stated to its employees that it did not have any intentions to carry out a wide spread layoff move. The General Counsel for Twitter; Sean Edgett in an email to the company’s employees made it known that Twitter does not plan layoffs.
Billionaire; Elon Musk also stated to investors that he intends to double Twitter’s revenue in three (3) years and also triple the number of daily users.
In May 2022 Elon Musk tried to stop his move to purchase Twitter. He revealed that the company; Twitter, had played down the extent of spam accounts and bot accounts on its platform. His decision resulted in a number of lawsuits between Twitter and the Billionaire.
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Elon Musk was sued by Twitter in July 2022 with the Delaware court receiving a request that the Billionaire should be compelled to follow through with his agreement from April of 2022 to purchase the social media giant for 54.20 United States Dollars (USD) which is around 6,496 Kenyan Shillings per share when converted.
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Earlier on in October of 2022 the Billionaire made it known that he would indeed be going ahead with the initial terms agreed upon. It is expected that both Twitter and Elon Musk will be finalizing the purchase before the end of the month.
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