The acquisition seems to be going forward
reports. Elon Musk, who is acquiring the company, has been telling prospective investors that he plans drastic firings to bring down costs.
Musk has a deadline to close the purchase of Twitter by October 28th. In a sign the deal is proceeding, Twitter froze its employees’ equity awards,Job cuts were planned anyway. Before Musk’s bid, Twitter management planned to slice almost a quarter of the workforce, chopping $800 million from payroll. Musk’s planned cuts, which are larger, are “unimaginable,” the former head of Twitter’s spam and health metrics told.
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