Elon Musk to fire 1000 employees at Twitter

The Daily Mail reports that Elon Musk is planning to fire one thousand employees at Twitter after the transfer of ownership which is expected to take at least six months.

Musk is expected to fire a large number of the company’s current employees as he makes major changes.

Elon also plans to increase Twitter’s revenue to $26.4 billion by 2028 from $5 billion last year.

Advertising on the platform is set to fall to 45% of total revenue under Musk, down from about 90% in 2020.

Musk also tweeted about potentially monetizing tweets, although he has not provided specific details.