According to people familiar with the situation, Bloomberg News reported on Wednesday that Elon Musk intends to remove 3,700 jobs at Twitter Inc., or half of the company’s employment, in an effort to reduce costs. The impacted employees will be informed on Friday by Twitter’s new owner.
According to Bloomberg, Musk plans to overturn the social media company’s current “work from anywhere” policy and mandate that all staff work from the office, with some possible exceptions.
In a tweet, Musk refuted a New York Times report that said he planned to fire Twitter staff before November 1 in order to avoid stock grants that were due on that day.
An inquiry for comment from Reuters did not receive a response right away from Twitter.
Reuters had earlier this week reported, citing sources, that Musk planned to reduce a quarter of Twitter’s personnel as part of a first round of layoffs at his freshly purchased company.