Musk Announces Mass Layoffs on Twitter in Email to Staff | Tech

In an email to Twitter staff, new owner Elon Musk announced Thursday that there will be mass layoffs. The email is in the hands of The Washington Post. He says it will be announced on Friday who will lose their jobs.

Sources previously told Bloomberg news agency that Musk wants to lay off about 3,700 of his 7,500 employees now that he owns the messaging service.

Team, in an effort to get Twitter on the right track, we are embarking on the difficult process of shrinking our global workforce. The Washington Post read the e-mail. This is necessary “to ensure the future success of the company,” the e-mail reads.

Sources reported to the news agency on Thursday Reuters Musk was advised by consultants that the company needs to implement cost savings of $ 1 to $ 3 million per day.

According to The New York Times Musk is not only under pressure to cut costs from the company he acquired last week, but also to increase revenues. Plans are underway to charge users for private messages and watching certain videos, writes the US newspaper.

The richest person in the world, who also leads four other companies, including automaker Tesla, previously fired the entire Twitter board to become the company’s interim CEO.