Musk appoints himself CEO of Twitter as employees brace for mass layoffs
The Guardian
Elon Musk has appointed himself CEO of Twitter and dissolved its board of directors, it was revealed in a company filing on Monday, as Twitter employees brace for extensive layoffs under a new restructuring that could target up to a quarter of staff.
The Washington Post reported on Monday that Musk’s team has been discussing letting go of 25% of the company’s workforce in a first round of layoffs.
The reported layoffs come as the tech billionaire overhauls the company after buying it for $44bn last week. Celebrity lawyer Alex Spiro, a longtime Musk legal representative, led the conversations about the impending job cuts, according to the report.