Elon Musk plans to fire 1,000 Twitter staff

• Elon Musk plans to quintuple Twitter’s revenue to $26.4 billion by 2028
• In a pitch deck Musk claimed he would increase Twitter’s annual revenue to $26.4 billion by 2028, up from $5 billion last year
• Said he’d cut Twitter’s reliance on ads to less than 50% percent of revenue
• Musk plans to boost Twitter’s user numbers with services such as Twitter Blue
• Twitter Blue costs $3-a-month for users to customize their experience
• Musk expects 69 million users to be using Twitter Blue by 2025

Elon Musk is planning to fire 1,000 staffers at Twitter as soon as his purchase of the social media platform is complete.

On a company level, Musk has previously floated the idea of closing down the San Francisco headquarters in order to save money.

Last month, Musk started a poll on his Twitter account – which has more than 81 million followers – asking whether the firm’s San Francisco headquarters should be converted to a homeless shelter as ‘no-one shows up (to work there)’. 

But then within the next three years, Musk anticipates making thousands of new hires, swelling the ranks to around 11,000 employees, up from 7,500 currently. Much of the new talent is likely to be in the field of engineering.

I strongly believe that all managers in a technical area must be technically excellent.

Managers in software must write great software or it’s like being a cavalry captain who can’t ride a horse!

— Elon Musk (@elonmusk) May 6, 2022