Twitter employees can breathe a small sigh of relief on news that Elon Musk is backtracking on his plans to lay off 75% of the workforce.
Musk is poised to become Twitter’s new owner sometime Friday. The mercurial CEO had previously stated his intention to lay off as much as 75% of the company’s employees once he became the new owner, prompting an open letter in which the employees called the plan “reckless.”
It appears Musk has had a change of heart, according to Bloomberg. Musk reportedly told employees at a meeting at the company’s San Francisco office that he does not plan on laying off 75% of them.
The CEO disputed the 75% figure, although it’s still believed that he plans to cut at least some of the staff.