Members of Tesla Inc TSLA CEO Elon Musk's inner circle discussed with the remaining senior executives of Twitter Inc TWTR regarding the site's approach to content moderation and laying off 25% of the workforce to start. Twitter has over 7,000 employees.
Alex Spiro, a well-known celebrity lawyer who has represented Musk for several years, led those conversations, the Washington Post reported.
Spiro took an active role in managing several teams at Twitter, including legal, government relations, policy and marketing, and tweets from some of the people involved.
Longtime Musk associates David Sacks and Jason Calcanis appeared in a company directory over the weekend. Both had official company emails, and their titles were "staff software engineer."
Musk's title in the directory was CEO. He refers to himself as "Chief Twit." Layoffs will touch almost all departments and likely impact sales, product, engineering, legal, trust, and safety in the coming days.
Musk has turned to several longtime allies as he overhauls Twitter. Layoffs will likely begin before November 1, when Twitter employees usually receive additional compensation related to stock grants.
Musk told prospective partners in the deal that he planned to cut nearly 75%, after which he retracted his statement. Reportedly, the total number of layoffs could likely be closer to 50%.
Musk fired Twitter CEO Parag Agrawal, Finance Chief Ned Segal, and Legal Affairs and Policy Chief Vijaya Gadde on completing a six-month $44 billion buyout.
Musk sent Tesla engineers to evaluate Twitter's software code and shared plans to form a content moderation council of experts.
Photo by Gerd Altmann from Pixabay
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.