Twitter executives planned to start a large round of layoffs just three days after Elon Musk bought the company, according to documents obtained by The Washington Post and interviews.
In the months before signing the April 25 deal with Musk, Twitter’s leaders were predicting internally that the company would be far off track from meeting revenue targets in 2022. Twitter’s board was planning to make “drastic” cuts to staff and other services, including cutting roughly a quarter of the budget for third party contractors who moderate unwanted content for the company, making major cuts to infrastructure and data centers, and firing thousands of people to shave at least $700 million off labor costs, according to the interviews and documents.
