Elon Musk intends to eliminate half of the jobs at Twitter to cut costs.

People who are familiar with the situation claim that Elon Musk intends to reduce costs following his $44 billion acquisition of Twitter Inc. by cutting approximately 3,700 jobs there, or half of the company's workforce.
The individuals, who requested anonymity to discuss non-public plans, stated that the new owner of Twitter intends to inform affected employees on Friday. Additionally, Musk intends to end the company's work-from-anywhere policy and require the remaining employees to report to offices.

According to the individuals, Musk and a team of advisers have been considering a variety of scenarios for job cuts and other policy changes at Twitter, which is based in San Francisco. The terms of the headcount reduction could still change, however.Two of the individuals stated that laid-off employees will be provided with 60 days' worth of severance pay in one of the scenarios being considered.

A request for clarification was sent to a Twitter spokesperson, who did not immediately respond.

Musk is under pressure to cut costs in a business for which he claims he paid too much. In April, as the market was plummeting, the billionaire agreed to pay $54.20 per share. After that, he tried for months to cancel the deal, claiming that the company had misled him about the number of fake accounts. Twitter filed a lawsuit to get Musk to stick to his agreement. In recent weeks, Musk gave in and agreed to close the deal at the terms agreed upon. The take-private transaction concluded on Thursday.

Since Musk took over, many of Twitter's top executives, including Chief Executive Officer Parag Agrawal, finance chief Ned Segal, and senior legal staffers Vijaya Gadde and Sean Edgett, were immediately fired. Leslie Berland, chief marketing officer, Sarah Personette, chief customer officer, and Jean-Philippe Maheu, vice president of global client solutions, all left in the days that followed.

In his Facebook bio, Musk called himself "Chief Twit."He would take on the role of interim CEO himself, Bloomberg reported earlier. Additionally, he disbanded the board of the company and became the sole director, stating later that this was "just temporary."

According to people familiar with the situation, a few director and vice president positions were eliminated over the weekend. According to the individuals, other leaders were instructed to compile lists of team members who might be let go.

A person who is familiar with the situation stated this week that senior members of the product teams were asked to aim for a headcount reduction of fifty percent. According to the person, the lists were reviewed by engineers and director-level employees from Tesla Inc., the automaker that Musk also runs. According to the individuals, layoff lists were compiled and ranked based on individuals' contributions to Twitter's code while employed by the company. Tesla employees and Twitter managers both made the assessment.

Musk has been making hints about his staffing priorities in recent weeks, stating that he wants to concentrate on the core product.Beginning in October, he tweeted, "Software engineering, server operations, and design will rule the roost."