Twitter, the social media giant, is facing a major downsizing under the leadership of billionaire Elon Musk. Reports indicate that the company has shed around 80% of its employees, with the head count hovering around 1300 working employees and fewer than 550 full-time engineers.
Despite the downsizing, Musk has authorized around 130 people from his other companies, including Tesla, SpaceX, and the Boring Company, to work for Twitter. In addition, around 75% of the company’s 1300 employees are currently on leave, including about 40 engineers.
Internal records also indicate that there are about 1400 non-working employees of Twitter who are still being paid but are no longer expected to fulfill their old responsibilities. Many of these employees resigned when Musk sent out a pledge asking them to commit to hardcore work at Twitter 2.0, including long hours.
Before Musk’s 44 billion dollar leverage buyout of Twitter last year, the company’s head count stood at around 7,500 employees. The recent downsizing has raised questions about the future of the social media giant and its ability to compete with other tech companies.
The news of the downsizing at Twitter has also sparked concern among investors and industry experts, who are questioning the company’s ability to continue to grow and innovate in the face of such significant workforce reductions. It remains to be seen how this downsizing will affect the company’s bottom line and its ability to compete in the ever-changing social media landscape.