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The Guardian - UK
The Guardian - UK
Technology
Dan Milmo in Lisbon

Twitter may ‘halve its workforce’ as key investor backs job cuts

Twitter Inc. Elon Musk Changpeng Zhao Binance United States Verge
Elon Musk seen through a Twitter logo.
Elon Musk seen through a Twitter logo. Photograph: Dado Ruvić/Reuters

A leading Twitter investor has backed job cuts at the company, amid reports that new owner Elon Musk could cut about half the 7,500-strong workforce.

Changpeng Zhao, the chief executive and founder of Binance, said “a slimmer workforce would make more sense” at the social media platform. The cryptocurrency exchange has invested $500m (£441m) in Twitter as part of Musk’s $44bn takeover, which completed last week and has been followed by a stream of changes and mooted overhauls of the company ever since.

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