Elon Musk reportedly plans to cut 75 percent of Twitter staff.

This will bring the headcount of 7,500 to just over 2,000.

He told prospective investors about the move as part of his takeover deal. 

Layoffs are expected in the coming months regardless of who runs the platform.

READ MORE: ELON MUSK ADMITS OVERPAYING FOR TWITTER BUT STILL “EXCITED”

Musk’s plans about whether to takeover the social media giant come at a tough time for Twitter.

In July, the business announced that it had already “significantly slowed hiring” due to a broader economic slowdown in the tech industry.

Many tech companies have recently announced hiring freezes and job cuts.

It was reported earlier that an internal memo sent by Twitter stated there are “no plans for any company-wide layoffs.”

READ MORE: TWITTER FREEZES EMPLOYEE STOCK ACCOUNTS IN ANTICIPATION OF THE DEAL

Meanwhile, the acquisition controversy with Tesla CEO has fostered low morale, resulting in mass resignations.

Twitter has been locked in a court battle with Musk for months after he tried to back out of the $44 billion takeover bid.

However, he changed his mind earlier this month and stated that he will go forward with it after all.

Human resources personnel at the social media business informed employees that mass redundancies were not planned.

READ MORE: ELON MUSK UNDER INVESTIGATION OVER THE TWITTER TAKEOVER DEAL

However, records showed that major plans to slash employees and reduce infrastructure costs were already in place before Musk sought to acquire the firm.

Twitter’s existing management intended to downsize 25 percent of its workforce by the end of next year.

The new report indicates Musk seeks to reduce Twitter’s 7,500 employees to a “skeleton staff” of roughly 2,000 people.

Analysts expect the cutbacks will have an impact on the San Francisco firm’s daily operations, including its ability to regulate harmful content and handle security issues.

READ MORE: ELON MUSK WANTS TO BUY TWITTER FOR A LOWER PRICE OF AROUND $31 BILLION

This follows a blistering whistleblower complaint in September that slammed Twitter for failing on both fronts, claiming “egregious” flaws within the site.

The communications company has previously planned to reduce financing for infrastructure assets such as its data centers.

Musk has stated that as Twitter’s owner, he would relax content moderation policies and possibly convert the firm to a subscription-based profit model.

Twitter did not respond quickly to a request for comment.

Need Career Advice? Get employment skills advice at all levels of your career

The current conflict between Musk and Twitter began in May when the mogul tried to back out of a deal to purchase the company.

He alleged Twitter’s misrepresentation of the number of bot and spam accounts on its platform as the reason for pulling out.

The social networking site accused him of “conjuring” an excuse to withdraw.

The bitter standoff was set to go to court when the businessman abruptly changed his mind in early October, declaring he would proceed with the deal on its original terms.

The billionaire is now gathering funding to complete the purchase before an October 28 deadline, when a judge has ordered that the deal be concluded.

Source: The Guardian

Follow us on YouTubeTwitterLinkedIn, and Facebook.