Friday, March 31, 2023

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    Elon Musk denies report he plans to fire workers to avoid payouts

    Tesla CEO and billionaire Elon Musk has denied a New York Times report that he plans to lay off Twitter workers before the start of next month to avoid having to make payouts.

    Replying to a Twitter user asking about the report, he said: “This is false.”

    Last week, Mr Musk completed his $44bn (£37.9bn) takeover of the social media platform after months of legal wrangling.

    The buyout saw the exit of the firm’s top bosses – including its chief executive, chairman and finance chief.

    At the weekend, The New York Times reported that Mr Musk had ordered major job cuts across Twitter’s workforce.

    The newspaper said the layoffs would take place before 1 November, when workers were due to receive grants of shares in the company as a major part of their pay deals.

    The takeover has prompted discussion among Twitter users over what the platform will look like under Mr Musk’s ownership.

    Some have voiced concerns that more lenient free speech policies would mean people banned for hate speech or disinformation may be allowed back to the platform.

    Last week Mr Musk said that he doesn’t want the platform to become an echo chamber for hate and division.

    “Twitter obviously cannot become a free-for-all hell-scape, where anything can be said with no consequences!” he tweeted.

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