Fintech

Elon Musk didn’t rule out layoffs in all-hands meeting with Twitter staff

Musk told Twitter staff: 'Right now, costs exceed revenue. That’s not a great situation.'

Elon Musk has kept Twitter employees and Wall Street on edge as to whether he will follow through with the $44bn transaction
Elon Musk has kept Twitter employees and Wall Street on edge as to whether he will follow through with the $44bn transaction Photo: AFP via Getty Images

Elon Musk, speaking via a smartphone that he appeared to be holding in front of him, told Twitter employees that he wants to dramatically increase the platform’s users and didn’t rule out layoffs as he works to complete his planned $44bn takeover.

The billionaire serial entrepreneur also outlined his thoughts on free speech and discussed the possibility of alien life, according to employees who participated in the meeting on 16 June. His appearance during the wide-ranging, roughly 45-minute virtual gathering marked another twist in what has been an unusual takeover bid.

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