Elon Musk has appointed himself chief executive officer (CEO) of Twitter and dissolved the board of directors, a company filing revealed on Monday, as Twitter employees brace for layoffs under a new restructuring that could affect up to a quarter of the staff.
The Washington Post reported Monday that Musk's team has discussed cutting 25% of the company's workforce in the first round.
After buying Twitter last week, Musk quickly took control, firing key executives: CEO Parag Agrawal, CFO Ned Segal and director of legal affairs and policy Vijaya Gadde.
He has also dismissed the board and appointed himself as sole board member, a company filing revealed on Monday. Musk said in a tweet that the board's disbandment was "merely temporary."
The company had more than 7,000 employees at the end of 2021, and a quarter of the workforce totals nearly 2,000 employees.
Elon Musk's purchase of the company has caused many employees to leave in recent months. The massive layoffs have fueled concern about day-to-day operations at Twitter, including security on the platform.
Sources: Washington Post, Guardian
