Elon Musk meets and greets Twitter employees; reportedly doesn't plant to let go 75% of staff
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Elon Musk meets and greets Twitter employees; doesn’t plan to let go 75% of staff

Credit: Tesla

Elon Musk met with several Twitter employees on Wednesday after making his grand entrance with a sink in his arms. A few Twitter employees took photos with the new Chief Twit and Accounts Manager, Customer Success,  Noémi Khachian, one of a few who warmly welcomed him on Twitter.

An earlier report by The Washington Post claimed that the Chief Twit planned to cut the Twitter staff down by 75% once the deal was finalized. The reported plans of layoffs caused a bit of a stir and even inspired a few employees to write an open letter with a few demands. However, it seems that the report may not be entirely true.

In a new Bloomberg report, an anonymous source said that Elon Musk told Twitter employees that he is not planning to cut 75% of the staff when he takes over. He is expected to reduce the staff as part of the takeover, but documents revealed that Twitter’s current management was planning to pare its payroll by $800 million next year.

 

Elon Musk is expected to close the Twitter deal by tomorrow, and banks have already begun to send $13 billion in cash to back his takeover. The Wall Street Journal reported that Elon Musk sent a borrowing notice to the banks that agreed, which was expected to happen today. The borrowing notice began a process where banks deposit the funds into an escrow account after ironing out the details of the debt contracts. Once this has been done, the funds will be made available for Elon Musk to purchase Twitter by tomorrow’s deadline.

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Elon Musk meets and greets Twitter employees; doesn’t plan to let go 75% of staff
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