Elon Musk is planning to eliminate 3,700 jobs at Twitter—equivalent to about half of the company’s total workforce—according to a report.
Musk aims to notify affected staff starting on Friday, Bloomberg reported. He also plans to end the company’s work-from-anywhere policy, asking remaining employees to work at the office.
Flanked by a circle of insiders, including personnel from Tesla, Musk has reportedly been weighing various layoff scenarios and stacking employee performance since closing his deal to buy Twitter last week.
Musk, who acquired Twitter for $44 billion, took the company private, eliminated its board of directors and sacked top management in an effort to cut costs at the debt-laden social network.
Twitter has occupied its Mid-Market headquarters since 2011, and went public in 2013.