But then within the next three years, Musk anticipates making thousands of new hires, swelling the ranks to around 11,000 employees, up from 7,500 currently.
Much of the new talent is likely to be in the field of engineering.
“If Twitter acquisition completes, the company will be super focused on hardcore software engineering, design, infosec and server hardware,” Musk tweeted late Friday.
I strongly believe that all managers in a technical area must be technically excellent. Managers in software must write great software or it is like being a cavalry captain who cannot ride a horse!
Elon Musk is aiming to increase Twitter’s annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world’s richest man to investors.
Advertising will fall to 45 per cent of total revenue under Musk, down from around 90 per cent in 2020, generating $12 billion in revenue in 2028, while subscriptions are expected to pull in another $10 billion, according to the report.
The social media company would bring in $15 million from a payments business in 2023, the NYT reported, that would grow to about $1.3 billion by 2028.
The real deal
Musk clinched a deal last month to buy Twitter for $44 billion in cash, in a move that will shift control of the social media platform populated by millions of users and global leaders to the Tesla chief.