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Elon Musk intends to cut half of Twitter jobs – report

Twitter's new owner Elon Musk also plans to reverse the social media company's existing work from anywhere policy, according to Bloomberg News.

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Musk, in a tweet, had denied a New York Times report that said he was planning to lay off Twitter employees before November 1 to avoid stock grants due on the day.

Elon Musk plans to cut about 3,700 jobs at Twitter or half of the company's workforce in a bid to cut costs, Bloomberg News reported, citing people familiar with the matter.

Twitter's new owner will inform the staff affected, according to the report published on Wednesday.

Bloomberg also reported that Musk intends to reverse the social media company's existing work from anywhere policy and will require employees to work from office though some exceptions could be made.

Musk, in a tweet, had denied a New York Times report that said he was planning to lay off Twitter employees before November 1 to avoid stock grants due on the day.

Twitter did not immediately respond to a Reuters news agency's request for comment.

Reuters had reported earlier this week, citing sources that Musk plans to cut a quarter of Twitter's workforce as part of a first round of layoffs at his recently acquired company.