Elon Musk denies plans to lay off employees from Twitter

News desk: Elon Musk has ordered mass layoffs on Twitter before November 1 - such news is circulating across the news feed. Newspapers like the New York Times and the Guardian have also published news about this.

However, Elon Musk denied the New York Times report. He said he had no plans to lay off Twitter workers before the start of next month to avoid payouts. Responding to a Twitter user who asked about the report, he said it was fake news.

Last week, Musk bought the social network Twitter for 44 billion US dollars after various legal troubles. After that, the chief executive and chairman of the company were fired. Since then, there have been rumors that Elon has ordered mass layoffs from Twitter.

Meanwhile, the US media The New York Times reported in a report, "These layoffs may occur before November 1, the day employees are supposed to receive their stock grants."

According to the report, if the workers are laid off before November 1, the Twitter authorities will not have to pay this grant.

Earlier on October 21, The Guardian reported in a report that Musk is planning to lay off 75 percent of the company's workforce according to the contract after acquiring the microblogging site Twitter.

The report also said that if Musk does end up taking over Twitter, it will come at a difficult time for employees. Elon wants to reduce the company's 7,500 employees to 2,000.

 

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