Will He, Won't He? Elon Musk Deal Chaos Said To Cause Record Departure Of Employees At Twitter

Amid Elon Musk’s months-long uncertainty over buying Twitter Inc. TWTR, many employees of the social media giant have reportedly sought opportunities at other tech companies such as Meta Platforms Inc. META and Alphabet Inc.'s GOOG GOOGL Google.

What Happened: Several Twitter employees have left the company to explore opportunities at tech giants such as Google and Meta, reported Business Insider, citing Punks & Pinstripes.

In the last 90 days, approximately 530 Twitter employees have left the company — 60% more than the previous quarter. Nearly 50 more workers resigned this month as the news surrounding Musk buying Twitter started gaining pace.

See Also: How To Buy Twitter (TWTR) Stock 

Since the Tesla Inc. TSLA CEO began acquiring stock in Twitter, over 1,100 workers have left the company, which initially had a workforce of about 7,500 people, the report noted.  

About 30% of the employees that left Twitter in the past three months have gone to either Google or Meta. Many employees are also said to be taking up jobs at social media companies such as Pinterest, LinkedIn, ByteDance-owned TikTok, and Snap Inc. SNAP

Why It's Important: Earlier this month, it was reported that Musk plans to lay off almost 75% of Twitter staff once he takes over the C-suite. It was also said that if Musk doesn't buy Twitter, the social media platform still plans about $800 million in payroll cuts by the end of 2023. 

Read Next: Elon Musk Could Sell $5B Tesla Shares To Fund Twitter Deal Next Week — But Analyst Predicts Rally Once' Overhang Lifts'

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