After months of back and forth, the billionaire Elon Musk is reportedly completing his Twitter takeover. Musk recently tweeted a video of him entering the company’s office in San Francisco, carrying a kitchen sink with a “Let that sink in” caption. This idiom is used when you want to let others know that something is finally happening, and they should gradually start to believe it. The Twitter staff recently wrote an open letter to Elon Musk and the company’s board, calling the possible mass layoff a “reckless” act. They also put forward a list of their demands, which included respect, safety, protection, and dignity. However, the outlet reports that Musk has talked to the staff and told them he has no plan to layoff 75% of them.
— Elon Musk (@elonmusk) October 26, 2022
Downsizing is still a serious option for Elon Musk
Despite Musk’s initial talks with employees, the billionaire might layoff some employees in the near future. Dates back to the Twitter Town Hall meeting in June, Musk clearly said that low-performing employees should not work at the company. Of course, even before Musk’s offer to take over Twitter, the company’s current management was planning to layoff at least 25% of staff, meaning 1,900 people could lose their job. Twitter currently has 7,500 employees. Twitter CEO Parag Agrawal also asked some top executives to leave the company. Twitter’s other plans to cut costs are major infrastructure cuts and data center closures. The court has postponed the Twitter and Musk trial to Friday, October 28, hoping for a mutual agreement without court intervention. Jude McCormick already said, “If the transaction does not close by 5 p.m. on October 28, 2022, the parties are instructed to contact me by email that evening to obtain November 2022 trial dates.” However, it seems that determining the future owner of Twitter does not need a court order and Elon Musk is now the owner of the company.
