Is Elon Musk planning to lay off 75% of Twitter employees?

Elon Musk reportedly intends to lay off 75% of the 7,500 Twitter employees.

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He says his investors are overpaying for the acquisition.

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Reports say that employee layoffs are inevitable in the coming months regardless of who runs the firm.

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October 28 is the deadline set by Elon Musk to complete the purchase of Twitter.

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Twitter has reportedly even halted its employees’ equity rewards as an indication that the deal is moving through.

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Layoffs were scheduled before Musk’s proposal and the layoff of its workers saves about $800 million in salary.

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While HR managers assure no mass layoffs are anticipated, documents show Musk made an acquisition bid to reduce infrastructure costs and force out staff.

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Elon Musk has a net worth of $220 billion.

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He offered to buy Twitter at $44 billion and said he would like to take the company private.

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