Report: Billionaire Elon Musk will cut 75% of Twitter workforce

On Thursday, the Washington Post reported that in his deal to buy Twitter, billionaire Elon Musk told prospective investors that he planned to get rid of nearly 75% of the social media company’s 7,500 workers.

According to the report, Twitter's management plans to reduce the company's payroll by $800 million in the next year, which would result in the loss of jobs for nearly a fourth of its workforce.

Contrary to what social media company employees were told by HR staff, mass layoffs were being planned by the company, according to documents obtained by the Washington Post. These plans included significant cuts to staff and infrastructure costs, long before Musk made his offer to buy the company.