A report published in the US newspaper (The New York Times) revealed that the US billionaire, Elon Musk, is planning to fire 1,000 employees once his purchase of the social media platform is completed.
He believed to fire many of the company’s employees after the transfer of ownership, which will take about six months, Musk said this to investors this week.
In return, the controversial Tesla boss is expected to appoint thousands of new employees, within the next three years
According to the New York Times, this will increase around 11,000 positions, up from 7,500 today.
Musk had conducted an investor presentation explaining his lofty ideas for Twitter as well as his financial objectives for 2028.
According to the offer, Twitter may earn up to $26.4 billion in yearly revenue by 2028, up from $5 billion last year.
According to the source, Musk aims to hire 3,600 people, bringing the total number of Twitter employees to 11,072 by 2025.
Musk wants to increase free cash flow to $3.2 billion in 2025 and $9.4 billion in 2028.
He noted that Twitter would add about $13 billion in debt as part of the acquisition plan.