Musk says won't fire 75% of Twitter staff as he finalises deal

Tesla CEO Elon Musk has told Twitter employees that he is not going to lay off 75 per cent of the workforce when he takes over the micro-blogging platform.

San Francisco:Tesla CEO Elon Musk has told Twitter employees that he is not going to lay off 75 per cent of the workforce when he takes over the micro-blogging platform. Reports earlier mentioned that Musk will fire 75 per cent, or 5,600 employees, from the Twitter staff globally. Musk, who visited Twitter headquarters in San Francisco with a sink in his hands late on Wednesday, cleared to the employees that he will not sack so many people, reports TechCrunch.

Musk has casually mentioned laying off Twitter staff in his tweets, without sharing any figure. Twitter employees are still anxious about expected staff cuts as part of the takeover, which is likely to be closed on Friday. According to The Wall Street Journal, banks and lenders have started to send $13 billion in cash backing Musk's $44 billion takeover of Twitter.

"Once final closing conditions are met, the funds will be made available for Musk to execute the transaction by the Friday deadline," the report mentioned. Musk must complete the acquisition by Friday or face the lawsuit at a court in Delaware, as per the deadline given by the judge. Meanwhile, reports said that Twitter employees had written an open letter to the board of directors and Musk, criticising his plans to lay off 75 per cent of the workforce. Twitter has told employees in an internal message that they would hear directly from Musk on Friday. (IANS)

(This story has not been edited by ETV Bharat and is auto-generated from a syndicated feed.)