Elon Musk hints at potential Twitter layoffs

Elon Musk, a multi-billionaire, hinted at possible job layoffs in a meeting with Twitter staff if his $44 billion (£35.8 billion) acquisition offer for the social media business is successful.

He also talked on issues including the right to free speech, remote employment, and even extraterrestrial life.

For the first time since he began pursuing the company in April, Mr. Musk was speaking with employees.

If information on phony accounts is not provided, he has threatened to walk away from the contract.

Layoffs at Twitter will depend on the company’s financial status, Mr. Musk said during a lengthy video conference with Twitter employees on Thursday.

“The business does need health. Right now, expenditures outweigh income, he added.

But he said, “Anyone who… contributes significantly shouldn’t be concerned.”

He added that unless “someone is amazing,” he prefers to work from home.

Although he said he had not seen “real proof for aliens,” Mr. Musk, the CEO of both SpaceX and Tesla, talked about the prospect of life beyond Earth.

He said that the platform may aid “civilization and awareness,” asking “Can we travel to distant star systems and check whether there are extraterrestrial civilisations?”

Separately, a number of employees at SpaceX, where Mr. Musk serves as CEO, wrote an internal letter to the company’s leadership on Thursday calling Mr. Musk a “constant source of distraction and humiliation.”

Later same day, he was also sued for $258 billion (£209 billion) by a Dogecoin investor who claimed he was conducting a pyramid scheme to raise the value of the cryptocurrency.

In the New York case, it is claimed that Mr. Musk “used his position as the richest man in the world to administer and orchestrate the Dogecoin Pyramid Scheme for profit, exposure, and pleasure.”

Earlier this month, Mr. Musk threatened to withdraw the acquisition offer and said that Twitter was “thwarting” his requests for information about its user base.

He claimed he had the right to conduct his own analysis of spam accounts in a letter sent to regulators.

After he said the sale was “on pause” seeking more information, a disagreement that had been brewing for weeks was formalized by the letter.

At the close of New York trade on Thursday, the company’s shares were each valued at $37.36, far less than Mr. Musk’s offer price of $54.20.

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