- by theguardian
- 21 Sep 2023
After a months-long fight over whether Elon Musk would become its new owner, Twitter appears to have entered a new chapter with the reported exit of several top executives.
The billionaire has not been coy about his ambitions, though he has been scarce on details on how he plans to accomplish them. Here is some of what to expect now.
Other figures banned from Twitter include the US conspiracy theorist Alex Jones and, in the UK, the rightwing commentator Katie Hopkins.
Musk told investors interested in funding his acquisition of the company that he plans to cut 75% of the workforce, according to documents seen by the Washington Post. But reports indicate the Tesla CEO told Twitter employees on his first visit to the company on 5 October that he did not plan to lay off that many workers. However, he is still expected to make some cuts. Twitter employs 7,500 people.
His financial backers will be looking for revenue growth, too. A consortium of banks is committed to raising $13bn in debt as part of the financing and the contributors to the more than $30bn in equity pledged by Musk will want the business to do well.
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