As part of his proposal to raise funds to acquire Twitter, Elon Musk apparently “raised” the idea of cutting Twitter jobs to improve the end result, according to a Bloomberg report. “Although nothing is set in stone – and Musk himself did not have access to Twitter’s non-public financial data at the time – he specifically mentioned job cuts” during discussions with banks, the report said. The Washington Post reported that Musk was discussing achieving “efficiency” in the company in talks with bankers, “which may include job cuts.”
There is still much uncertainty about what Twitter will look like under Musk, assuming the $ 44 billion deal announced on Monday goes as expected. So far, the best indication of what he wants to do with the platform comes from his own words in a press release:
Freedom of speech is the foundation of a functioning democracy, and Twitter is the digital city square where issues vital to the future of humanity are discussed. I also want to make Twitter better than ever by improving the product with new features, making open source algorithms to increase trust, defeat spam bots, and authenticate everyone. Twitter has huge potential – I look forward to working with the company and the user community to unlock it.
But potential job cuts have not been publicly discussed. Twitter did not respond immediately to a request for comment.
Given Musk’s many tweets about opening up free speech on the platform – including those criticizing past Twitter decisions that have drawn negative attention to employees – one area where Musk may make cuts is the political department. the company. Musk disbanded Tesla’s PR department, so perhaps Twitter’s communications groups could also be considered.
For bankers, Musk may have discussed ways to improve the end result, but he publicly said he was not interested in Twitter for the money. “It’s not a way to make money,” Musk told TED 2022 on April 14. “My strong intuitive feeling is that having a public platform that is as trusted and inclusive as possible is extremely important for the future of civilization. I’m not interested in economics at all. ”
Updated April 28, 8:30 PM ET: Added confirmation from The Washington Post.
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