Elon Musk is beginning his tenure as the head of Twitter by planning to enact a series of drastic layoffs throughout the company, The New York Times reported Saturday.
Musk, known as the man behind tech ventures such as Tesla and SpaceX, took over the social media giant following the closing of a $44 billion deal to purchase the company. He immediately fired numerous top executives within Twitter's ranks, in a sign of a changing of the guard. It appears Musk is also looking to eliminate large masses of workers, however, with the Times reporting that he wants to do so by Nov. 1 in order to avoid paying out stock grants as part of an employee compensation deal.
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