Elon Musk hints at layoffs speaking to Twitter employees

Tesla CEO Elon Musk addressed Twitter employees for the very first time on Thursday. Speaking to Twitter staff during an internal meeting, Musk said that the company “needs to get healthy” financially and also bring the cost down. This somewhere hints that job cuts are probably in store for Twitter. Of course, if the deal to buy the microblogging platform is finalised. Currently, Musk has put the Twitter deal on hold.

“Right now costs exceed revenue,” Musk told employees when asked about the possibility of layoffs during an internal Q&A, as reported by The Verge. Employees who heard the remarks told the publication. “That’s not a great situation,” Musk added.

Even though Musk didn’t explicitly talk about job cuts, the billionaire’s comments did hint at such possibilities in the near future. When employees asked Musk if layoffs are planned for the future, he said “It depends. The company does need to get healthy”, as reported by CNBC.

During the internal meeting, Musk also said that there has to be some rationalization of headcount or else Twitter won’t be able to grow in the future. “Anyone who is a signification contributor has nothing to worry about,” he further added. Musk also talked about work from home setup, the buyout deal and much more during the meeting.

To recall, CEO Parag Agrawal previously assured Twitter employees that layoffs are not on plan “at this time”. Once the Twitter deal falls in place, reports suggest, Musk may fire Agrawal, but the CEO said that he doesn’t fear losing his job.

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