Elon Musk plans to cut about 3,700 jobs at Twitter Inc. or half of the company's workforce in a bid to cut costs, Bloomberg News reported on November 2, citing people familiar with the matter.
Twitter's new owner will inform the staff affected on November 4, according to the report.
Bloomberg also reported that Mr. Musk intends to reverse the social media company's existing work from anywhere policy and will require employees to work from office though some exceptions could be made.
Mr. Musk, in a tweet, had denied a New York Times report that said he was planning to lay off Twitter employees before November 1 to avoid stock grants due on the day.
Twitter did not immediately respond to a Reuters request for comment.
Reuters had reported earlier this week, citing sources that Mr. Musk plans to cut a quarter of Twitter's workforce as part of a first round of layoffs at his recently acquired company.
