Twitter tells staff no layoffs are planned, following reports Musk will axe 75% after takeover

Twitter Inc. TWTR, +1.18% has reportedly told staff there are no layoffs planned after a separate report that Tesla CEO Elon Musk would cut 75% of the social-media company’s workers. Twitter General Counsel Sean Edgett sent employees an email on Thursday to say no widespread job cuts are planned, reported Reuters late Thursday, citing a source who saw the email. MarketWatch has reached out to Twitter for a comment. Shares of the company tumbled 8% in premarket on Friday, following reports the administration of U.S. President Joe Biden could be considering a national security review of Musk’s ventures.