Twitter to get 'remodeled' with employee layoffs planned by Elon Musk

Elon Musk has wasted no time in reorganising the microblogging platform after sealing the USD 44 billion purchase of on Thursday. He has begun laying off personnel and is planning to establish a council to make content choices, The Hill reported.

Even though many people doubted Tesla CEO Elon Musk's commitment to the USD 44 billion Twitter takeover transaction, Musk ultimately went through with it, and he is now in command of the social media platform.

In a tweet, Musk announced that "Twitter will be forming a content moderation council with widely diverse viewpoints. No major content decisions or account reinstatements will happen before that council convenes."

As soon as he finalised the planned agreement, in which Twitter's CEO Parag Agrawal and finance chief Ned Segal departed the business's San Francisco headquarters, he purged the top executives of the company. According to The Hill, he has also given hints that, in his first days as president, he may make modifications to the ban status of accounts that were created during the previous administration.

Additionally, Tesla's CEO sparked suspicion by tweeting "Let the good times roll" shortly after he acquired the social media platform and closed the deal.

This week, Musk documented his arrival at Twitter's headquarters on Twitter, stating "Entering Twitter HQ - let that sink in!" and also updated his Twitter description to "Chief Twit.

"He tweeted a video of him and described his visit as an experience that he was trying to "sink in" as the Tesla CEO has until the end of the week to either close the Twitter deal or face a trial.

Musk's offer to buy out Twitter and make the social media platform private was approved by Twitter in April. Early on, Musk cast doubt on his commitment to the agreement by claiming that the firm had not provided sufficient information on the prevalence of spam and fraudulent accounts on the site.

Elon Musk, who has long shown an interest in purchasing Twitter, abruptly backed out of the transaction in July. The Tesla CEO said that Twitter broke their acquisition agreement by exaggerating the low quantity of spam and phoney bot accounts on their network.

Also, READ: After Elon Musk's Twitter takeover, Jack Dorsey tests new social media platform

The market dropped significantly when Musk announced the deal's cancellation. In a subsequent lawsuit, Twitter accused Musk of employing bots as a fig leaf to get out of a business agreement, and it filed a lawsuit against him.

Musk reaffirmed his intention to complete the Twitter acquisition at the previously agreed upon price of USD 54.20 per share last week. The court hearing the Twitter acquisition dispute has postponed further legal action until October 28.

(With inputs from ANI)