Musk claims that his scorched earth policy will bring down costs, which it will -- it could also bring down the company leaving it a burnt out shell.
Musk has a deadline to close the purchase of Twitter by 28 October. In a sign the deal is proceeding, Twitter froze its employees’ equity awards, Bloomberg reported. Anonymous sources tell The Post that the deal is moving forward in good faith.
To be fair to Musk, the company had planned to get rid of a quarter of its workforce to save $800 million. Musk’s planned cuts, which are larger, are “unimaginable,” the former head of Twitter’s spam and health metrics told The Post. Twitter is likely to experience more hacks, for instance.
Musk plans to implement stack ranking, the practice famously ended at Microsoft in 2013 because it contributed to bad culture, to shrink headcount.
Musk told investors his cunning plan would double revenue in a couple of years. Of course, he didn't say how that will happen.