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Elon Musk Could Reverse His Decision To Lay Off Most Of Twitter’s Workforce

After purchasing Twitter for $44 billion, Elon Musk in his first few weeks in charge slashed the platform鈥檚 workforce by 80%. 6,300 people lost their jobs taking the tally of employees from 7,800  to about 1500.

The reason for these drastic and massive layoffs was that the company needed to cut costs to break even. The public and even professional analysts were quick to criticize Musk鈥檚 decision going as far as to predict that he will regret it.

If Musk鈥檚 recent comments are anything to go by, it looks like they were right. In a recent article, Elon Musk has openly admitted that good people were let go and the company (once breaking even), will look to rehire.

Speaking to CNBC鈥檚 David Faber, Musk said 鈥淒esperate times call for desperate measures. There鈥檚 no question that some of the people who were let go probably shouldn鈥檛 have been let go because we simply did not have the time to figure [it] out. We had to make widespread cuts to get the run rate under control.鈥�

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While Musk鈥檚 decision to make large-scale cuts was highly criticized, he was not the only one to make the decision. His layoffs got criticized so much more because they accounted for 80% of the workforce.

The entire tech industry has been struggling since 2022, leading to massive layoffs all over. Mark Zuckerberg, a fellow tech billionaire, cut 21,000 jobs at Meta, Google reduced its employment by about 12,000 at the beginning of the year, and Amazon let 27,000 people go in a matter of months.

As Fortune reports, other business leaders in the industry have openly shown their approval of Musk鈥檚 decision. This also applies to Keith Rabois, a Silicon Valley venture capitalist (VC) and comrade of Musk in the alleged PayPal mafia.

Speaking at an event in March, Keith said that Big Tech companies and leaders were 鈥淓lon Musk and Twitter to evaluate how effective their strategy was and how they can make cuts to their own staff. He also insisted he could never bet against the Twitter CEO.

鈥淭his is not to say that everyone who was let go from Twitter is terrible or something鈥攊t鈥檚 just we have to, with very little information, get the headcount, expenses, and the non-personnel expenses down to where we break even,鈥� Elon Musk clarified.

Musk further explained that the layoffs were made in bulk as they needed to do it fast. 鈥淯nfortunately, if you do it fast there are going to be some babies thrown out with the bathwater,鈥� he said.

Elon Musk also provided some hope for those who would like to work for the social media company or even those who were laid off. 鈥淲e absolutely need to hire people,鈥� he said. 鈥淎nd if they鈥檙e not too mad at us probably rehire some of the people that were let go.鈥�