Elon Musk Plans To Eliminate About 75% Of Twitter Staff : Report

(RTTNews) - Billionaire and Tesla founder Elon Musk plans to eliminate about 75 percent of Twitter's staff once he has bought the social media company for $44 billion, the Washington Post reported citing interviews and documents.

According to the report, Elon Musk told prospective investors that he plans to reduce Twitter's staff from about 7,5000 down to just over 2,000. The Job cuts are expected in the coming months no matter who owns the company.

The report indicated that Twitter had already planned to reduce wages at the company by around $800 million by the end of next year and reduce workforce by around 25 percent. The company had also planned to make major cuts to its infrastructure, including data centers that keep the site functioning for more than 200 million users that log on each day.

Earlier this month, Elon Musk took a U-turn and again proposed to Twitter to acquire the social media company for the originally agreed price of $54.20 per share. The news came as the two sides had been preparing to head to trial in two weeks over Musk's attempt to terminate of the $44 billion acquisition agreement, which Twitter had sued him to complete.

In April, Twitter had agreed to sell the company to Musk. However, in July, Musk decided to call off the deal over allegations that the company had given false information about the number of fake and spam accounts on its social media handle. Following Musk's declaration, Twitter filed a case against Musk to go ahead with his side of the deal.