Elon Musk Rescinds Decision to Lay Off 75% of Twitter Employees

Tesla CEO Elon Musk has rescinded his decision to lay off 75% of Twitter’s workforce after previously throwing the entire staff of the organisation into a panic.

The new owner of Twitter has now retracted his statement of laying off 75% of staff as reported last week.

Elon Musk recently posted a video on his Twitter profile where he walked into Twitter’s headquarters carrying a sink. “Entering Twitter HQ – Let that sink in. Meeting a lot of cool people at Twitter today!” he captioned the video.

Investors King on October 21, 2022, reported that the Tesla boss plans to lay off 75% of Twitter’s workforce once he takes over the company.

Musk had disclosed that his decision to do so was necessary, noting that it was ideal to rationalize the number of employees at the company. However, he stated that only those who are significant contributors will be exempted.

Following Musk’s plan to lay off some members of Twitter’s workforce, the company  General Counsel Sean Edgett in an email sent to employees clarified that the company has no intentions to lay off any of its workforce since it signed a deal to be acquired by billionaire Elon Musk.

However, Twitter’s CEO Parag Agrawal had earlier admitted that there is quite a bit of uncertainty following Musk’s acquisition as anything can be expected from him.

Experts have warned that Musk’s drastic plan to reduce Twitter’s workforce, could make the platform quickly become overrun with harmful content and spam, which would probably leave it inoperable.

However, following Musk’s decision to halt the firing of 75% of Twitter’s workforce, employees at the company are still anxious about expected staff cuts as part of the takeover, according to a report.

Recall that Elon Musk after his initial decision to opt out of the $44bn Twitter acquisition deal, has made a u-turn to buy the micro-blogging platform, following a court order.

Following a lawsuit filed by Twitter at a Delaware court, the presiding judge gave both sides until Oct. 28 to work out details, otherwise, there will be a trial in November.