Elon Musk discussed layoffs and monetizing Twitter with bankers during deal negotiations: report


Tesla CEO TSLA, -0.45% Elon Musk reportedly discussed job cuts and ways of monetizing Twitter TWTR, +0.97% with bankers during negotiations for his $44 billion takeover of the online news and social networking site. Without offering specifics, Musk said cutting costs and jobs would help generate returns for Twitter, according to a Thursday report on Bloomberg, which cited sources. As well, Musk floated ideas over monetizing Twitter and increasing cashflow, such as subscription services. During those discussions, he also said that his track record at Tesla and SpaceX are proof he can transition companies and generate financial returns.

Source: Marketwatch

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