As a part of his pitch to lift funds to accumulate Twitter, Elon Musk apparently “floated” the concept of slicing jobs at Twitter to enhance its backside line, according to a Bloomberg report. “While nothing is set in stone — and Musk himself had no access to Twitter’s non-public financials at the time — he specifically mentioned job cuts” throughout discussions with banks, the report says. The Washington Post reported that Musk mentioned making “efficiencies” on the firm within the conversations with bankers, “which could include job cuts.”
There are nonetheless a whole lot of uncertainties about what Twitter will seem like below Musk’s possession, assuming the $44 billion deal announced Monday goes by means of as anticipated. So far, the most effective indication of what he needs to do with the platform comes from his personal phrases in a press release:
Free speech is the bedrock of a functioning democracy, and Twitter is the digital city sq. the place issues very important to the way forward for humanity are debated. I additionally wish to make Twitter higher than ever by enhancing the product with new options, making the algorithms open supply to extend belief, defeating the spam bots, and authenticating all people. Twitter has large potential — I sit up for working with the corporate and the neighborhood of customers to unlock it.
But potential job cuts haven’t been publicly mentioned. Twitter didn’t instantly reply to a request for remark.
Given Musk’s many tweets about opening up free speech on the platform — together with ones criticizing previous selections by Twitter that have drawn negative attention to employees — one space the place Musk might make cuts is the corporate’s coverage division. Musk dissolved the PR division at Tesla, so maybe Twitter’s communications teams might be below scrutiny as properly.
To bankers, Musk might have mentioned methods to enhance the underside line, however publicly, he’s indicated that he isn’t fascinated about Twitter for the money. “This is not a way to sort of make money,” Musk said at TED 2022 on April 14th. “My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. I don’t care about the economics at all.”
Update April twenty eighth, 8:30PM ET: Added corroboration from The Washington Post.