The Morning After: Elon Musk reportedly wanted to lay off most of Twitter’s employees

According to a report by The Washington Post, Musk has told potential investors that he plans to lay off 75 percent of Twitter’s 7,500 employees after the deal closes, a move that would likely bog down his ability to moderate content and keep users safe. Internal documents received from The post show that prior to the Musk deal, current management planned to reduce the company’s payroll by approximately $800 million, a relatively modest 25 percent reduction. The company’s general counsel, Sean Edgett, told employees that cost-cutting talks took place earlier this year and they were discontinued “after the merger agreement was signed.” Edgett added that no company-wide layoffs are planned since then.

– Mat Smith

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Russell Falcon

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