People familiar with the matter: Elon Musk plans to lay off 3,700 Twitter employees to reduce costs

According to Bloomberg, citing people familiar with the matter, Elon Musk plans to lay off 3,700 Twitter employees (about half of the company's total workforce) to reduce its post-acquisition operating costs, and plans to notify the laid-off employees on Friday. In addition, Elon Musk may cancel the current telecommuting policy and require employees to go to the company to work, but there may be some exceptions for employees. People familiar with the matter also revealed that Elon Musk and a team of consultants are weighing a series of layoffs and other policy changes, and the specific compensation for layoffs may change.