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Tech giants can lay off to increase productivity: Musk


Twitter’s outgoing CEO Elon Musk has said that major technology companies based in Silicon Valley can cut further workforce without affecting their productivity. Musk cut Twitter’s staff by more than 80 percent in October-November last calendar year. He did this after buying Twitter for $44 billion.

Speaking virtually at the Wall Street Journal summit in London, Musk said Twitter has a large workforce it doesn’t seem to need. “I think that’s true for a lot of companies in Silicon Valley,” Musk said. In my opinion, these companies have the potential for significant job cuts without any adverse effect on their productivity. Rather, doing so would increase their productivity, Musk said. He said Twitter used to see situations where one person was working and the other nine were on break. Twitter now has about 1,500 employees, he told conference attendees. which is a reasonable number. Musk kept the layoffs even after laying off a large number of employees in October. It laid off over 66 per cent of the approximately 7,500 employees of the micro-blogging platform. Twitter closed two of its three offices in India and directed employees to work from home. In November, Musk laid off 90 percent of its over 200 employees in India. Musk said, we need to be absolutely fanatical.