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By next week, Musk could own Twitter, and a major change is brewing

By the end of the next week, Elon Musk is anticipated to assume control of Twitter after a tumultuous period marked by legal disputes, online disputes, and difficult talks. Regardless of who controls the platform, the social media giant seems to be planning some significant staff reductions.

That’s according to a recent investigation by the Washington Post, which looked into the takeover of Twitter through several interviews and document acquisitions. According to reports, Musk informed potential investors that his acquisition of the business would result in the sacking of approximately 75% of Twitter’s 7,500 employees. According to Reuters, Twitter’s chief attorney Sean Edgett sent an email to staff members on Thursday denying any plans for layoffs in response to the media report.

Following a heated negotiation session that dragged on for months, both Musk and Twitter are hoping to close the agreement by October 28.

All indications are that the deal will go, but even if it doesn’t, the Post reports that the company may be facing layoffs because of a broader economic crisis affecting the computer industry and beyond.

For his part, Musk recently expressed optimism on the deal. He acknowledges that he and his investors significantly overpaid for the platform, but he thinks its long-term potential will far outweigh its present value. Though it’s unclear how this will be accomplished with only a portion of the personnel, it’s certain that Twitter could experience some significant changes in the years to come.

The inventor of SpaceX has stated that he is purchasing the social media site as part of a larger strategy to create “X, the everything app.” It has been rumored that X may take design cues from Chinese “super-apps” like WeChat, which combine instant messaging, social media, and mobile payments all under one centralized platform. Although very few specifics of this proposal have not been publicly revealed.

Others are less enthusiastic. There were rumors last month that the controversy surrounding the Musk transaction caused low morale among Twitter’s staff and prompted hordes of workers to quit.

The concept of a Twitter owned by Musk raises concerns for the US government as well. In light of the billionaire’s position on the Russian-Ukrainian conflict and the prospective inclusion of foreign investors in the consortium, Bloomberg reports that the federal government has been looking into ways to review this latest endeavor of the businessman.

The drama carries on as usual.

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