Elon Musk’s Twitter Plan Reportedly Includes Cutting Jobs to Make More Money

Elon Musk's Twitter plan reportedly even includes considering the idea of job cuts to bring more money to the social media giant.

The tech entrepreneur, Musk, had to spend $44 billion to own the microblogging site in a blockbuster deal that was announced earlier this week.

The CEO and founder of firms like Tesla and SpaceX have floated the idea of buying Twitter this April.

Elon Musk's Twitter Plan

In fact, last Apr. 14, the billionaire publicly said that he is not after Twitter to merely make money off it, making it clear before the billion-dollar deal was even formally announced, as per a news story by The Verge.

Musk said during the TED 2022 event last Apr. 14 that "this is not a way to sort of make money."

The tech CEO explained that he does not "care about the economics at all" of Twitter. Instead, he is focused on making it a "public platform that is maximally trusted and broadly inclusive."

When the deal was officially announced, Musk said in a press release that he actually plans to make Twitter "better than ever" by bringing in new features and improving its algorithm.

Elon Musk to Cut Jobs on Twitter?

Meanwhile, according to a recent report by Bloomberg, before Musk started negotiating the billion-dollar deal to purchase the social media giant, he visited bankers to raise funds for it.

As such, teams of bankers had to ask the billionaire about his plans on how to create revenue for Twitter to make ends meet.

When Musk was making his pitch to bankers, he told them that he was focused on the bottom line of Twitter.

On top of that, Bloomberg cited unnamed sources close to the matter, saying that Musk pitched the idea of cutting costs and jobs to the bankers to make more money.

It is worth noting, though, that Musk has yet to get his eyes on the financial records of Twitter during that time. He only mentioned that one of the ways to make more money is by cutting jobs.

The sources of Bloomberg said that the tech CEO did not go into specifics regarding the job cuts. Musk went on without mentioning positions or departments.

However, The Verge suggested that the billionaire could purge the PR department of Twitter -- much like what he did to Tesla.

This article is owned by Tech Times

Written by Teejay Boris