📺 Stream EntrepreneurTV for Free 📺

Elon Musk Gets Brutally Honest About Twitter Job Cuts, Said Many Employees 'Didn't Have a Lot of Value' Musk spoke at the Wall Street Journal's CEO Council Summit in London on Tuesday and said other companies could make more cuts, too.

By Emily Rella

entrepreneur daily
Getty Images

Elon Musk spoke at the Wall Street Journal's CEO Council Summit in London on Tuesday and opened up about his mass firings and layoffs since he took over as Twitter's owner last October.

"There were a lot of people that didn't seem to have a lot of value," Musk said bluntly. "I think there is the possibility for significant cuts at other companies without affecting their productivity, in fact increasing their productivity."

Musk's cuts at Twitter were vast and contentious, first ousting top executives such as then-CEO Parag Agrawal before issuing rounds of mass layoffs, bringing Twitter's total estimated active workforce to around 1,000 employees as early May — nearly 90% less than it was when Musk took over.

Last November, Musk sent an ultimatum to employees saying their work ethic had to be "extremely hardcore" and that they could expect to be "working long hours at high intensity." Employees were asked to sign a document stating that they were all in by 5 p.m. the next day or face termination with three months of severance.

Musk went on to talk about his own sense of work ethic at Tuesday's summit by explaining that it's often difficult for him to juggle his day considering he is a triple-leader between running Twitter and being CEO at Tesla and SpaceX.

"My days are very long and complicated as you might imagine," he explained. "And there's a great deal of context switching … the time management is extremely difficult."

Musk recently appointed former NBCUniversal executive Linda Yaccarino as CEO of Twitter, maintaining that he will shift his focus at the social media company to the tech and product design side.

Musk's net worth as of Wednesday afternoon was an estimated $186.2 billion.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick


Franchising Is Not For Everyone. Explore These Lucrative Alternatives to Expand Your Business.

Not every business can be franchised, nor should it. While franchising can be the right growth vehicle for someone with an established brand and proven concept that's ripe for growth, there are other options available for business owners.

Business News

Passengers Are Now Entitled to a Full Cash Refund for Canceled Flights, 'Significant' Delays

The U.S. Department of Transportation announced new rules for commercial passengers on Wednesday.

Business News

Elon Musk Tells Investors Cheaper Tesla Electric Cars Should Arrive Ahead of Schedule

On an earnings call, Musk told shareholders that Tesla could start producing new, affordable electric cars earlier than expected.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.


Why Companies Should Prioritize Emotional Intelligence Training Alongside AI Implementation

Emotional intelligence is just as important as artificial intelligence, and we need it now more than ever.