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Twitter to lay off 25% of workforce in first round of job cuts - Washington Post

Published 10/31/2022, 06:09 AM
Updated 10/31/2022, 12:01 PM
© Reuters. FILE PHOTO: A Twitter logo is seen outside the company's headquarters in San Francisco, California, U.S., April 25, 2022. REUTERS/Carlos Barria

(Reuters) - Twitter, which was acquired last week by billionaire Elon Musk, plans to let go of a quarter of its workforce as part of what is expected to be a first round of layoffs, the Washington Post reported on Monday, citing a person familiar with the matter.

Celebrity lawyer Alex Spiro, a long-time Musk legal representative, led the conversations about the job cuts, according to the report.

Twitter had over 7,000 employees at the end of 2021, according to a regulatory filing and a quarter of the headcount amounts to nearly 2,000 employees.

Musk denied a New York Times report about laying off Twitter employees at a date earlier than Nov. 1 to avoid stock grants due on the day.

© Reuters. FILE PHOTO: A Twitter logo is seen outside the company's headquarters in San Francisco, California, U.S., April 25, 2022. REUTERS/Carlos Barria

Twitter did not immediately respond to a Reuters request for comment.

Musk fired Twitter Chief Executive Parag Agrawal, Finance Chief Ned Segal and Legal Affairs and Policy Chief Vijaya Gadde on completion of a six-month $44 billion buyout saga of the social media platform on Thursday, sources told Reuters.

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