New Twitter CEO Elon Musk will reportedly eliminate half of the company’s workforce at the end of this week as he tries to make the company profitable.
Bloomberg News reported that Musk is cutting 3,700 of the company’s 7,500 employees and that employees will be notified of their dismissal on Friday.
Musk is also reportedly canceling a work-from-anywhere policy and is going to force employees to come into the office to work.
The news comes after initial reports suggested that Musk could cut up to 75% of the company’s workforce, though subsequent reports suggested that the number could be as low as 25%.
The details regarding the dismissal of the employees were not immediately clear, although the report said that Musk was considering paying them up to two months of severance pay.
The New York Times reported that Musk “ordered the cuts across the company, with some teams to be trimmed more than others,” adding that “some managers [were] being asked to draw up lists of employees to cut.”
Musk took over the company Thursday evening after a six-month legal battle saw the deal nearly fall through and Twitter took Musk to court to force him to close on the company.
Musk began his new reign at the company by firing leftist CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety, The Washington Post reported. The report said Musk also fired the company’s general counsel, Sean Edgett, who was escorted out of the building.
Musk has since announced he is going to charge verified accounts a monthly fee to keep their verified status, which he will also now offer to random users who are not public figures, a move that has garnered a lot of backlash across the political spectrum.
Musk is also reportedly restoring the content moderation tools that he briefly suspended after taking over following a meeting that he had this week with left-wing groups.
Bloomberg News reported that Musk “promised” the groups that he would “restore content moderation tools that had been blocked for some staff by the end of the week.”
Musk’s decision comes after the leaders complained about Musk’s plans “to relax speech protections on the platform and restore the accounts of users who had been removed.”