Musk To Take ‘Potentially Drastic Action’ As Twitter Buyout ‘In Serious Jeopardy’; Twitter Makes Major Cuts

Musk To Take ‘Potentially Drastic Action’ As Twitter Buyout ‘In Serious Jeopardy’; Twitter Makes Major Cuts

Elon Musk‘s $44 billion bid to for Twitter is in serious jeopardy and the billionaire is reportedly reviewing his options after his team accused the social media platform of not disclosing enough information about spam accounts.

The Washington Post reported that Musk’s team has stopped engaging in discussions with investors about the funding behind the purchase because they believe that the spam figures provided by the company are incomplete.

The newspaper reported that Musk’s team has determined Twitter’s figures on spam accounts cannot be verified with available information, leaving its true number of active daily users a mystery. Musk’s team is poised to take “potentially drastic action,” the report said.

A change in direction from Musk’s team could be looming, although the source who spoke to the newspaper did not offer a timeframe.

Twitter simultaneously said on Thursday that it had let go of 30% of its talent acquisition team amid the potential Musk takeover.

The layoffs followed a May announcement Twitter implemented a hiring freeze as it sought to pare expenses, The Wall Street Journal reported. The new plans prompted restructuring and a reduction of the talent acquisition team, the outlet reported.

The layoffs on the team were expected to impact fewer than 100 employees, according to the Journal.

This is a developing news story; refresh the page for updates.

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