Elon Musk plans to cut jobs at his new company, Twitter

Elon Musk intends to cut roughly 3,700 jobs at Twitter, or half of the social media company’s employment, in an effort to reduce costs following his $44 billion acquisition.

Twitter’s new owner plans to let affected employees know on Friday. The remaining staff will be asked to report to company’s offices, and Musk also plans to reverse the company’s current work-from-anywhere policy, though some exceptions may be granted, according to the sources.

The people added that the specifics of the workforce reduction might still alter as Musk and group of advisors consider several options for job cutbacks and other policy changes at San Francisco-based Twitter, but laid-off employees would receive 60 days’ worth of severance pay.

Senior members of the product teams were instructed to aim for a 50% reduction in staff. The insider added that engineers and people at the director level at Tesla evaluated the lists. Based on employee’s contributions to Twitter’s management and members of the Tesla evaluated the situation.