According to a Bloomberg article, Elon Musk reportedly "floated" the notion of Twitter employee cuts as part of his pitch to seek funding to purchase the company. "While nothing is certain — and Musk did not have access to Twitter's non-public financials at the time," the paper states, "he expressly suggested employment cutbacks" during negotiations with banks. According to The Washington Post, Musk addressed "efficiencies" at the firm with financiers, "which might involve job cutbacks."
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Elon’s News Release Regarding Twitter
Other unknowns about what Twitter will look like under Musk's control, provided the $44 billion acquisition announced Monday closes as planned. Thus yet, the most direct indication of his intentions for the platform comes from his own words in a news release:
Free speech is the core of every functional democracy, and Twitter serves as the digital town square for debating issues critical to humanity's future. Additionally, I want to make Twitter better than ever by adding new features, open-sourcing the algorithms to enhance trust, combating spam bots, and authenticating all people. Twitter has enormous potential, and I'm looking forward to collaborating with the business and the user community to help it realize it.
However, anticipated job losses have not been raised publicly. A request for comment from Twitter was not immediately responded to.
Musk’s Future Plans For Twitter
Given Musk's many tweets advocating for more freedom of expression on the platform — including those criticizing previous Twitter choices that drew unfavorable attention to staff — one area where Musk may make changes is the company's policy department. Musk recently dismantled Tesla's public relations department, raising the possibility that Twitter's communications teams may also be scrutinized.
Musk may have explored methods to boost the bottom line with bankers, but he has openly said that he is not interested in Twitter for the money. "This is not a method to earn money," Musk said on April 14th at TED 2022. "I have a strong intuitive feeling that having a publicly trustworthy and generally inclusive platform is critical for the future of civilization. I am completely unconcerned about economics."
In November, Parag Agrawal, Twitter's current CEO, took over from Jack Dorsey. Agrawal is anticipated to remain CEO until Musk's acquisition of Twitter is finalized, Reuters reported. According to Reuters, Musk has also lined up a new CEO for the firm.
Featured image: Twitter
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