Tesla and SpaceX CEO Elon Musk has told Twitter investors that he plans to cut nearly 75 % of the social network’s staff if he ultimately takes control of it, multiple media outlets reported.

Specifically, the tycoon expects to lay off around 5,500 employees, leaving a workforce of just over 2,000 workers currently employed by the social network. Twitter was already hoping to fire part of its team due to economic factors, although at no time had it planned to reduce staff by three quarters, according to the aforementioned media.

However, the cuts would not only affect workers, but also the company’s infrastructure and the data centers that allow the social network to function.

Therefore, the decision could affect the millions of users of the social network, since they could be at risk of possible hacks and be more exposed to offensive material, according to experts consulted by the Bloomberg agency.

The cuts would not only affect the personnel, but also the company’s infrastructure, and specifically the data centers that allow the operation of this network that is consulted by more than 200 million users a day.

Musk has a date until October 28 to close the acquisition of Twitter if he wants to avoid going to trial with the company, after which the businessman and engineer expressed his intention to adhere to the original agreement to buy Twitter for $54.20 per action, which would imply a total of 44,000 million dollars.

K. Tovar

Source: DW

La entrada Elon Musk would fire a large part of the staff of Twitter apareció primero en Bitfinance.

Twitter described the countersuit filed by the founder and CEO of Tesla, Elon Musk, as “inaccurate in fact” and “legally insufficient”, the framework of the legal fight over the purchase agreement abandoned by the tycoon.

“Musk simultaneously and inconsistently alleges that Twitter violated the merger agreement by obstructing his requests for information. The counterclaims are factually inaccurate, legally insufficient, and commercially irrelevant,” Twitter president Bret Taylor said in a statement.

The company thus rejected the tycoon’s argument, which he gave last week, that he had been deceived during the purchase process since he had allegedly not received certain information that he had asked Twitter about the number of active fake accounts and the way to audit them.

Twitter’s legal team argued that such an interpretation “has been devised in an effort to escape a merger deal that Musk no longer found attractive once the stock market… declined in value.”

The tycoon’s counterclaim, filed by his legal advisers, noted as “likely” that the social network had changed the number of monetizable daily active users before the agreement between the two parties was finalized, which would have changed the purchase price of the social network.

For this reason and for the alleged lack of response to Musk’s request for information, the founder of Tesla assured that the company would have violated his agreement, valued at more than 44,000 million dollars.

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Source: dpa

La entrada Twitter says Musk’s lawsuit is ‘insufficient’ apareció primero en Bitfinance.