Tesla and SpaceX CEO and soon-to-be Twitter owner Elon Musk said he did not expect to lay off a full 75 percent of Twitter employees on Wednesday while visiting the company's San Francisco headquarters, despite reports from last week that he planned to lay off that percentage.
According to Bloomberg, Musk is "still expected to cut staff" from the roughly 7,500 employee workforce as part of his $44 billion dollar deal to take over Twitter, a move that is "causing anxiety among workers" and they are "greeting the prospect of ownership by Musk with trepidation."
During his Wednesday visit to the California headquarters, Musk entered the location carrying a sink and writing on Twitter, "Entering Twitter HQ — let that sink in!" Musk also changed his Twitter bio to say "Chief Twit," as well as his location, which now lists Twitter’s headquarters.
On Thursday morning, Musk issued a statement to Twitter advertisers saying, "The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence."
Musk offered to buy Twitter in April but sought to end the acquisition a few months later over concerns regarding the number of "bot" accounts on the platform, which resulted in a legal battle between him and the company. A Delaware Court of Chancery has given Musk until Oct. 28 to close the deal, otherwise, the matter will go to trial in November, but earlier this month, Musk announced that he would go through with the offer.
"Musk offered $54.20 a share for the company and his efforts to back out of the transaction sent the shares roughly 40 percent below the offer price in July," according to Bloomberg.
On Wednesday "The gap between Twitter’s share price and the takeover offer narrowed to less than $1" and Twitter's stock closed at $53.35.
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