apk.fm / News / Elon Musk’s plans for making money with Twitter reportedly include job cuts

Elon Musk’s plans for making money with Twitter reportedly include job cuts


As a part of his pitch to boost funds to amass Twitter, Elon Musk apparently “floated” the concept of reducing jobs at Twitter to enhance its backside line, in keeping with a Bloomberg report. “Whereas nothing is about in stone — and Musk himself had no entry to Twitter’s private financials on the time — he particularly talked about job cuts” throughout discussions with banks, the report says. The Washington Submit reported that Musk mentioned making “efficiencies” on the firm within the conversations with bankers, “which may embody job cuts.”

There are nonetheless numerous uncertainties about what Twitter will appear to be below Musk’s possession, assuming the $44 billion deal introduced Monday goes by as anticipated. Up to now, the perfect indication of what he desires to do with the platform comes from his personal phrases in a press launch:

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 source to extend belief, defeating the spam bots, and authenticating all people. Twitter has super potential — I sit up for working with the corporate and the group of customers to unlock it.

However 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 destructive consideration to staff — 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 may very well 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 interested by Twitter for the cash. “This isn’t a strategy to form of earn money,” Musk mentioned at TED 2022 on April 14th. “My sturdy intuitive sense is that having a public platform that’s maximally trusted and broadly inclusive is extraordinarily essential to the way forward for civilization. I don’t care in regards to the economics in any respect.”

Replace April twenty eighth, 8:30PM ET: Added corroboration from The Washington Submit.

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