Twitter to Lay off 25% of its Employees in First Round of Job Cuts

Twitter, which was owned last week by billionaire Elon Musk, plans to let go of a quarter of its workforce as part of what is anticipated to be the first round of layoffs, the Washington Post reported on Monday, citing a person familiar with the matter.

According to the report, celebrity lawyer Alex Spiro, a long-time Musk legal representative, led the conversations about the job cuts.

At the end of 2021, Twitter had over 7,000 employees according to a regulatory filing and a quarter of the headcount amounts to nearly 2,000 employees.

Musk denied a New York Times report about laying off Twitter employees at a date earlier than Nov. 1 to avoid stock grants due on the day.

Sources told the media that Elon fired Twitter Chief Executive Officer Parag Agrawal, Finance Chief Ned Segal, and Legal Affairs and Policy Chief Vijaya Gadde on completion of a six-month $44 billion buyout saga of the social media platform on Thursday.

By Archana

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