Elon Musk denies reports of impending layoffs at Twitter [ad_1]

UKRAINE - 2022/04/26: In this photo illustration, Twitter account of Elon Musk is seen on a smartphone screen and Twitter logo in the background. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) SOPA Images/SOPA Images/LightRocket via Gett

Elon Musk denies reports of impending layoffs at Twitter

Jenny Goldsberry

October 30, 09:03 PM October 30, 09:03 PM

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Twitter CEO Elon Musk denied reports on Sunday that he already began firing employees as early as Saturday.

Musk responded to the New York Times' report that he'd begun firing employees ahead of the Nov. 1 deadline when they would begin to "receive stock grants as part of their compensation." It also claimed the company will have to pay the fired employees compensation in cash instead of grants and that layoffs are expected to affect around 50% of the company's workforce.

"What a guy," news editor Eric Umansky tweeted Saturday. "[Musk] is making sure to fire people at Twitter before part of their year-end compensation *kicks in on Tuesday.*"

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"This is false," Musk responded Sunday.

Rumors have swirled around Musk's leadership strategy since April, including one that projected 75% of the workforce would be laid off. Musk and Twitter have denied the rumors.

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The confirmed firings include CEO Parag Agrawal and head of legal policy, trust, and safety Vijaya Gadde.

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