Elon Musk has reportedly planned to cut about 3,700 jobs at Twitter or half of the company’s workforce in a bid to cut costs.

It was learnt that Musk, who recently acquired Twitter for $44 billion, will inform the affected staff on Friday.

According to Bloomberg, the world’s richest man 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.

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.

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Musk is also expected to force employees to report to offices, a move he has done for his other companies which would be in stark contrast to Twitter’s current work-from-anywhere policy.

Twitter employees have reportedly been working 12 hours a day, seven days a week, under threat of firing.

The microblogging site has yet to react to the development as of press time.

It was reported earlier this week that Musk plans to cut a quarter of Twitter’s workforce as part of a first round of layoffs at his recently acquired company.

The Star