Tesla CEO Slashes Twitter's Workforce To Half.

Elon Musk, Twitter's new Boss, will likely cut half of the company's workforce to cut costs. According to the Verge, Musk met with his advisors, including former PayPal executive David Sacks, to finalize plans to fire about 3,800 workers. According to a media report, more details have emerged about how many people might be affected.

As per the earlier report, Musk was planning to cut 3,700 employees, and the impacted people could receive 60 days of compensation. Additionally, he intends to remove Twitter's "forever" work-from-home policy.

It was reported that Twitter layoffs would hit roughly a quarter of the staff that would heavily impact teams, including engineering, sales, product, legal, and trust and safety.

However, Elon Musk has also dissolved Twitter's board of directors after his takeover, according to a US Securities and Exchange Commission (SEC) filing. Following this, Musk, as per the filing, became "the sole director of Twitter." It confirmed that instead of joining Twitter's board of directors, Musk became their sole replacement.

Musk took over as the Twitter boss last week. He has fired Indian-origin CEO Parag Agrawal, Chief Financial Officer Ned Segal, and the company's policy chief Vijaya Gadde, among others.