Elon Musk says Twitter employee headcount will be streamlined

Elon Musk addressed Twitter employees for the first time on Thursday, projecting a need for “downsizing” but offering few other new details about the social media company’s $44 billion takeover.

Musk said he wanted to grow the number of service users to at least one billion people and said advertising would remain important to the company, according to audio of the meeting heard by Reuters.

He is the richest person in the world according to Forbes magazine, tries to buy Twitter for 44 billion dollars. He has an estimated net worth of nearly $240 billion according to Forbes, but most of his wealth is tied to shares of Tesla Inc, the electric car maker he runs.

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Since Musk’s takeover bid, many Twitter employees have expressed concern that the billionaire’s erratic behavior could destabilize the social media company’s business and harm it financially.

In April, chief executive Parag Agrawal was seen assuaging employee anger at a company-wide meeting where staff demanded answers on how managers planned to handle an anticipated mass exodus caused by Musk.

Musk has warned Twitter that he could walk away from his deal to acquire the company if he doesn’t provide the spam and fake account data he’s looking for.

First post: STI


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